1. You have two (2) hours to complete this exam. You may allocate your time as you wish.

2. This is an open book exam. You may use any written material.

3. This exam consists of two (2) essay questions.

4. Read, think and analyze before you begin to write. Please write your responses in the blue books provided. Please write clearly. Write on every other line and every other page to permit instructor comments.

5. If you believe you lack sufficient facts to answer the question, please specify what additional information you require and how it will affect your answer.

6. Write your exam number on your exam envelope. Put your student exam # at the top of this page, each page of questions, and each blue book. Do not use your name, student ID number or Social Security Number on any exam materials.

7. At the conclusion of the exam, return all exam materials to the exam envelope and submit it to the proctor. Do not seal the envelope. Students who do not return all exam materials at the end of the exam may not be graded.

GOOD LUCK!

1. Sammy Student attended the fundraising auction at the law school. At the live auction, he made the winning bid of $1,750 for a bar review course and the outlines that went with it. It was a real steal – the regular price was $2,500. Sammy slipped out of the auction without paying. He ignored two or three phone messages asking that he make payment. Finally, one week after the auction, once he had received a check from his mom, Sammy contacted the student in charge of the auction to arrange payment. Sammy was told that when he did not pay at the auction or respond to telephone messages, the bar review course had been sold to the next high bidder for $1,700.

Advise Sammy.

2. Barbie was interested in buying a blue point Siamese cat. She looked on the internet and located a breeder with a new litter of kittens. Barbie went out and visited the kittens and was charmed by a little female. Barbie had decided before she went that she wouldn’t make up her mind until after she got home – otherwise she would wind up with the whole litter. So Barbie slept on her decision and mailed the breeder a note indicating her choice and a check for $350 the next day. The breeder cashed the check and then called Barbie to inquire about her home life. Barbie tried to be open and cooperative but she is a rather private person and the nature of the inquiries offended her. So she hung up. The next day, when Barbie called the breeder to apologize, the breeder announced that he was sending Barbie a check in the amount of $350 because he has decided to send the kitten to a more suitable home.

Advise Barbie.

END OF EXAM