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Question
Mr. Green is a local mobster who makes Mr. Blue pay $100 not to have his business burned to the ground. What is the status of the contract between Mr. Green and Mr. Blue?
A. There is no contract because Mr. Green gave inadequate consideration
B. There is a contract as long as Mr. Green registers the contract with the Secretary of State
C. There is a contract as long as $100 is a reasonable profit for not burning down the business
D. There is a contract as long as a court reviews the terms within 30 days
Answer
This answer is hidden. It contains 115 characters.
Related questions
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Which of the following was the earliest federal legislation enacted to protect water bodies against pollution?
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Q:
The maximum penalty for a criminal violation of the 1933 Act is a:
A. $20,000 fine and one year imprisonment.
B. $10,000 fine and five years' imprisonment.
C. $20,000 fine and five years' imprisonment.
D. $10,000 fine and one year imprisonment.
Q:
Nast Corp. orally engaged Baker & Co., CPAs, to audit its financial statements. The management of Nast informed Baker that it suspected the accounts receivable were materially overstated. Although the financial statements audited by Baker did, in fact, include a materially overstated accounts receivable balance, Baker issued an unqualified opinion. Nast relied on the financial statements in deciding to obtain a loan from Century Bank to expand its operations. Nast has defaulted on the loan and has incurred a substantial loss. If Nast sues Baker for negligence in failing to discover the overstatement, Baker's best defense would be that:
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In which of the following contexts is a professional most likely to experience a nonclient action?
A. An accountant who prepares and audits financial statements of companies.
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C. A securities broker who provides investment advice to retail investors.
D. An attorney who advises companies on corporation and business laws.