Eva Brief

You think you know BUSINESS LAW?
?
1) Dave’s Hobby Town and Eva’s Yarn Shoppe are adjacent stores with adjoining parking lots. Dave offers Eva a discount on purchases from Dave’s store if Eva will not tow the cars of Dave’s customers who park in Eva’s lot. Eva’s forbearance from towing is legally sufficient consideration…
a.because it is a promise of something of value
b.only if Dave’s customers park in Eva’s lot
c. only if Eva’s customers cannot park in her lot because it is full
d.under no circumstances
2)Delta, Inc., agrees to assume a debt of Excel Company to First State Bank. The agreement is not in writing. To be enforceable, the promise must be for the benefit of
a.any party
b. Delta
c. Excel
d. First State
A brief description would be awesome
1. A. It just has to be a promise of value. Anything. A question I had last year was like “John promises to paint Jill’s house if Jill promises to cook him dinner. It’s not of the same value, but still counts lol
2. I’m having an issue with. I’m assuming the debtor owes quite a bit. Wouldn’t that fall under the Statue of Frauds? Wouldn’t it need to be in writing? My best guess would be Excel, because they would have to benefit from it to have sufficient consideration. Naturally, someone buying off your debt is welcomed in most cases haha..
I’m still not comfortable with my answer to number 2, but I can’t find my Business Law book right now lol
These exams are hard but I love them!
Norah , Yessenia, Senora Moody, and Eva’s Brief Input (: