Rande Promised to Provide a Series of Lectures on Tort

question 45

Multiple Choice

Rande promised to provide a series of lectures on tort law to a group of professional athletes in exchange for payment of $10 000. Shortly before the lectures were scheduled to take place, Rande promised to provide a publishing company with a recorded set of lectures on tort law in exchange for $15 000. The publishing company agreed that Rande's planned lecture for the group of professional athletes would be the subject of the recording. Which of the following statements is TRUE?

• A) Rande does not have a contract with the group of professional athletes because he re- used his promise to provide a lecture in order to support his contract with the publishing company.
• B) Although Rande has contracts with both the group of professional athletes and the publishing company, he can only demand payment from one of them.
• C) Rande does not have a contract with the publishing company because a pre- existing contractual obligation cannot be re- used for the purpose of supporting a new contract.
• D) If Rande fails to provide the lecture as promised, he may be held liable for breach of contract to both the group of professional and the publishing company.
• E) Rande's promise to the publishing company would be enforceable only if it was made under seal.

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Definitions:

Intercept Term

The intercept term in a regression model is the value of the dependent variable when all independent variables are equal to zero.

Coefficient

A steady or unvarying number that precedes and acts as a multiplier for the variable in algebraic expressions.

Predictor Variables

Variables in statistical models that are used to predict outcomes of interest.

Second-order Polynomial

A polynomial of degree two, characterized by a quadratic equation that includes squared terms as its highest order.