Tag Archives: Mike

John offers to sell one acre of land to Mike. Mike can’t make a decision immediately. He asks John to keep the offer open. John agrees to keep the offer open for 10 days when Mike pays $100 for promise. Such an agreement to keep an offer open is a_________.

i think is 1.D 2.F
Mary, 94 yrs old, was a patient of Dr. San for 10 yrs. Dr. San knew Mary had over $75,000 in certificates of deposit. When Mary is placed in a nursing home at Dr. San suggesting, he convinces Mary to transfer the CDs to him and to transfer her house to Dr. San for $1. There is a presumption of
a. Mistake
b. Lack of consideration
c. uUndue infuence
d. Lack of capacity

Ms. Jone who won 2 million dollars in the lottery, wants to own an authentic painting by Picasso. The local art dealer agreed to arrange a sale. After making unsuccessful attempts to locate a painting, he sold Ms. Jone a forged painting for $50,000, alleging it to be an authenic Picasso. To recover her money, Ms. Jone must show
a. Misrepresentation of a material fact
b. Dealer knew or should have know of the misrepresentation
c. Dealer intended to defraud her
d. she suffered injury
f. a,c,e
g. b,d,e
h. All