Tina, an experienced pool contractor, and Bruce agree on a price for Tina to build a pool in Bruce's backyard.

Which of the following is true under the UCC regarding checks marked "paid-in-full"? 
A. If a business inadvertently cashes such a check, the business has 30 days from the date it cashed that check to offer repayment in the same amount to the debtor and avoid an accord and satisfaction.
B. If a business inadvertently cashes such a check, the business has 60 days from the date it cashed that check to offer repayment in the same amount to the debtor and avoid an accord and satisfaction.
C. If a business inadvertently cashes such a check, the business has 90 days from the date it cashed that check to offer repayment in the same amount to the debtor and avoid an accord and satisfaction.
D. If a business inadvertently cashes such a check, the business has 120 days from the date it cashed that check to offer repayment in the same amount to the debtor and avoid an accord and satisfaction.
E. The business has no recourse, and the debt is deemed discharged and satisfied.

Which of the following was the result in the case Mast Long Term Care v. Forest Hills Rest Home, covered in the Case Nugget, in which the defendant rest home claimed it was not bound by an agreement to buy all its drugs not commonly stocked from the plaintiff? 
A. The agreement was not enforceable because no price schedule was agreed upon.
B. The agreement was not enforceable because it was an output contract.
C. The agreement was not enforceable because it was a requirement contract.
D. The agreement was enforceable based on promissory estoppel although consideration was lacking for a binding contract.
E. The agreement contained sufficient consideration on the part of the plaintiff and defendant.

In return for his oral promise to pay her $100, Penny promises her uncle that she will not violate laws against speeding for one year. Penny abides by her promise, but her uncle refuses to pay. Which of the following is true regarding whether Penny is entitled to the money?

Penny is not entitled to recover because she had a preexisting duty to obey laws against speeding.

Tina, an experienced pool contractor, and Bruce agree on a price for Tina to build a pool in Bruce's backyard. While the area is not known for rocks, unfortunately Tina unexpectedly encounters a significant problem with solid rock in the backyard when she starts to dig. She tells Bruce that unless she receives an extra $5,000, she cannot complete the job. Bruce agrees thinking to himself that he has a way out. When Tina finishes the pool, Bruce refuses to pay the additional $5,000. Which of the following is the most likely result of their dispute?

Bruce will be required to pay because unforeseen circumstances are an exception to the preexisting duty rule.

Sue is three months behind on her mortgage, and her lender filed negative information affecting her credit rating. Sue mailed one monthly payment to the lender along with a letter providing that she was making the payment on condition that the lender removes negative material sent to credit reporting agencies affecting her credit rating. The lender cashed the check but did not remove the negative information. Sue sues the bank for breach of contract. Which of the following is the most likely result?

The bank will win because under the preexisting duty rule, Sue was already legally obligated to make the payment, and there was no consideration to support the contract.

Which of the following was involved when the government, in attempting to help AIG, agreed with AIG to lend AIG up to $85 billion in exchange for nearly 80 percent of AIG's stock? A bilateral contract

Which of the following is true regarding the rating the World Bank gives China in relation to the ease of doing business there? China is rated in the top 10.