Washington state laws prohibiting minors from gambling

Assignment Help Operation Management

Reference no: EM132198603

True/False

1. If the seller is mistaken about the value of an item sold to a buyer, the seller can rescind the contract.

2. At the age of 16, Ted enters into a contract to buy a computer. At the age of 18, he is still happy with his computer, and continues to use it for another three years. Ted is considered by law to have ratified the computer purchase contract.

3. There are no Washington State laws prohibiting minors from gambling.

4. In Washington State, an agreement authorizing or employing an agent or broker to sell or purchase real estate for compensation or a commission must be in writing to be enforceable.

5. The general rule in Washington is that if a profession requires a license or registration, and the professional or practitioner is not licensed or registered at the time a party entered into a contract for services to be performed by the professional or practitioner, the contract is not legal, and therefore not enforceable.

Multiple Choice

6. On August 31, 2016, Arthur, who is a florist, enters into an oral contract with Stage-It, Inc., in which Arthur agrees to provide floral arrangements at all properties that Stage-It "stages" for high-end property showings in King County, from September 1, 2016 through August 31, 2018. This contract is enforceable by

A. Arthur only.

B. Stage-It, Inc., only.

C. neither party.

D. either party.

7. Which of the following contracts involving real estate must be in writing to be enforceable?

A. a two-year lease

B. a sale of a partial interest in the property for $400

C. a sale of the property for $500,000

D. all of the above

8. Defenses to enforcement of a contract can include which of the following types of misrepresentation?

A. fraud

B. negligent misrepresentation

C. innocent misrepresentation

D. all of the above.

9. Twenty-two-year-old Chad has just graduated from college. He wants to buy a new car to celebrate. He expects to be able to make payments through his new job. His parents tell him that they will help him out, if he has difficulty making payments down the road, so he buys the car. Shortly thereafter, he loses his job, and can’t make the car payment. He tells the dealer that his parents have agreed to cover for him, but they have had unexpected home repair expenses, and it would be a hardship for them to cover for Chad. Which of the following is true?

A. The dealer cannot legally require the parents to make the payment.

B. The dealer can legally require the parents to make the payment.

C. Only Chad can legally require his parents to make the payment.

D. none of the above.

10. A "lucid interval" is

A. a period of time when a person with mental capacity issues, who has not been judged mentally incompetent by the court, understands the legal consequences of his/her act of entering into a contract.

B. a period of time when an unlicensed professional cannot enter into a valid contract.

C. a period of time when a person can enter into a prenuptial agreement without benefit of professional advice, and not be bound by the conditions of the prenuptial agreement.

D. none of the above.

11. Exceptions to the Statute of Frauds writing requirement include:

A. the admissions exception.

B. promissory estoppel.

C. both the admissions exception and promissory estoppel.

D. none of the above.

Reference no: EM132198603

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