Week 6 : Contracts and E-Commerce - Quiz

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Question 1. 1. (TCO 6) Explain the basic requirements that must be met for a contract to be enforceable. (Points : 10) | Question 2. 2. (TCO 7) Define emancipation, and list a few possible reasons for its occurrence. (Points : 5) | Question 3. 3. (TCO 7) When Samantha’s grandmother died, her mother asked her to help clean out her grandmother’s home. The books and clothing were donated to a local thrift store. However, there were a few paintings and vases that Samantha thought could be sold on Ebay or Craigslist. Samantha’s mother did not want to go to that trouble so she gave the items to Samantha. One vase was really pretty but Samantha decided not to keep it, so she listed it on Craigslist for $10. Jason Baker responded to the ad and went to Samantha’s home to view the vase. When there, he asked Samantha if she knew anything about the origins of the vase. She said she did not but knew that her grandmother liked collecting Chinese art since she had lived in China for a while. Jason had been an art history major in college and believed that this was a vase from the Ming Dynasty with a value of $500,000–600,000. He told Samantha that he really liked the vase, that he was an art history major, and it may have some value, so he was willing to pay her $5,000. Samantha readily agreed to the sale for $5,000. Two months later Jason took the vase to an art appraiser who told him that the vase looked authentic, it is really a very convincing counterfeit. Jason Baker contacted Samantha and asked for his money back. Samantha refused and Jason Baker filed suit. Will Jason Baker prevail in court? Why or why not? (Points : 5) | Question 4. 4. (TCO 7) Discuss a situation where a legal right can be assigned to a third party, and provide an