1) Menefee and her housemate Nettles decide Menefee should purchase an insurance policy on her life as part of their joint household's investment plan

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1) Menefee and her housemate Nettles decide Menefee should purchase an insurance policy on her life as part of their joint household's investment plan. Nettles is named as beneficiary however a provision under the policy allows Menefee to revoke and change beneficiaries. If Menefee decides she will no longer pay the premiums, what might Nettles, as a third-party beneficiary, reasonably do? 

(A) She can sue Menefee for breach of contract.

(B) She can sue the insurance company for breach of contract.

(C) She can sue Menefee and the insurance company simulaneously, thus doubling the value of the original contract. .

(D) None of the above are likely to be successful for her.

2) Which, if any, of the following options describes an agency relationship?

(A) A relationship between a landlord and his or her tenants.

(B) A relationship in which a jewelry store is negotiating to buy wholesale diamonds.

(C) A relationship in which Bill delivers a package to Alice for Mary.

(D) None of the above describes an agency relationship.

3) Johnson is a volunteer fireman for Prince George's County. One evening, he responds to an alarm at a residence. Outside the house, Bob grabs Johnson by the shoulders and says: My little daughter is in the house. Please save her! I'll pay you $20,000.00 if you get her out alive! Johnson bravely rushes into the burning house and rescues the little girl. The next day, Johnson finds Bob and asks for his check. Bob refuses to pay. Under these facts:

(A) Johnson will lose based on the theory of preexisting duty.

(B) Johnson will lose based on the theory of past consideration.

(C) Johnson will be awarded the money based on the theory of ordinary contract law.

(D) Johnson will be awarded the money based on the theory of necessity.

4) Jack lives in a state that does not operate a lottery. This state does not have a statute expressly authorizing or prohibiting gambling. Jack feels that he can make a substantial profit from a lottery so he starts a private lottery within the state. Under these facts:

(A) Jack's lottery is legal because it is not expressly prohibited by statute.

(B) Contracts directly relating to Jack's lottery are void. .

(C) Contracts directly relating to Jack's lottery are valid.

(D) A and C.