A minor enters into a contract for the purchase of certain necessaries , in such case Question 8Answer a. he is liable to pay b. his guardian is liable to pay. c. he is not personally liable to pay d. his estate is liable to pay

Ming entered into a contract with Lee to supply Lee with smuggled cigarettes. Lee received the smuggled cigarettes and tried to sell them off at a profit. However, due to the COVID-19 pandemic, Lee could not find any buyer for the smuggled cigarettes. Without any profit, Lee was unable to pay Ming the outstanding sum under their contract. Required: Analyse whether Ming is entitled to seek assistance from the court to claim back the outstanding sum under the contract from Lee. Support your discussion with relevant legal principles and cases, if any.

Bryson is the owner of a deferred annuity. His son, Calvin, is the annuitant, and his daughter, Isabelle, is the beneficiary. Which parties to this annuity can select the type and timing of annuitized income payments?(Search Chapter 3) a. Bryson b. Calvin c. Isabelle d. Bryson, Calvin, or Isabelle

It is assumed that a drawer or maker will recognize his or her own signature and that a maker or an acceptor will recognize whether an instrument has been materially altered. Therefore, with respect to any of these parties who in good faith accepts an instrument, in terms of presentment warranties,   a. all of them apply.   b. none of them apply.   c. only the warranties that the instrument has not been altered and that the person obtaining acceptance has no knowledge of an unauthorized signature apply.   d. only the warranty that the person obtaining acceptance is entitled to enforce the instrument applies.

Professor Shott buys a Porsche against the wishes of his much more intelligent wife.  Professor Shott soon realizes his mistake when he starts to make the car payments.  Jane, a very wealthy 17 year old, offers to buy the Porsche and Professor Shott accepts. Now assume that before she turns 18 Jane gets in an accident and badly damages the Porsche causing $20,000 in damage.  Assume she originally paid Professor Shott $50,000 for the car.  If Jane now seeks to return the damaged car what is the result?   Professor Shott must refund Jane his money minus the amount of the damages. Professor Shott does not have to refund Jane anything. Professor Shott can demand it be repaired before giving Jane a refund. Professor Shott must refund Jane 100% of his money even though he damaged the car.

S insured his appliance store under an owner, landlords, and tenant’s policy that included products liability coverage. While he was demonstrating a microwave oven the door came open and injured a customer. Which of the following would protect S?   The oven manufacture’s products liability policy The premises-operation section on S’s policy The products Liability section on S’s policy The incidental contracts section of S’s policy

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The statute of frauds does NOT cover which of the following contracts? Bridgeby enters into a contract for the sale of her house. Ruelle and Randolph enter into a pre-nuptial agreement. O Quincy accepts Cleo's offer to buy from Cleo her couch for the price of $4,000. Jasper, the executor of the estate of Gabrielle's dead cousin, agrees with Gabrielle that Gabrielle will pay a debt of that estate: Gabrielle will inherit three-fourths of the estate, with the rest going to various charities. O For the price of $599. Millie enters into a contract with a merchant, Reesa, to buy from Reesa some wrenches with an estimated barter value of approximately $620.

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Eric and Susan just purchased their first home, which cost $140,000. They purchased a homeowner’s policy to insure the home for $130,000 and personal property for $80,000. They declined any coverage for additional living expenses. The deductible for the policy is $500. Soon after Eric and Susan moved into their new home, a strong windstorm caused damage to their roof. They reported the roof damage to be $19,500. While the roof was under repair, the couple had to live in a nearby hotel for three days. The hotel bill amounted to $420. Assuming the insurance company settles claims using the replacement value method, what amount will the insurance company pay for the damages to the roof?