13
QuizMultiple Choice

Simple Contracts

Question 13 • 26-27 Ignite Technical Math-Financial Math - MA2007

The following statement is from the contract Peter signed with his Homeowner's Association (HOA). "Overnight parking on community streets is prohibited. For the purpose of this contract, 'overnight' will be defined as the hours between 11:00 p.m. and 4:00 a.m. The HOA will monitor overnight parking not less than once every calendar week with nightly patrols by community security. "In the event a car is found parked on community streets overnight and that ownership of the offending car can accurately be verified as a community homeowner, the homeowner will receive one (1) written warning asking him or her to correct the situation. A second and third infraction by the same homeowner, whether or not it is with the same car, will result in a monetary fine as permitted by CC&R guidelines and HOA bylaws. Further infractions (past 3) will result in monetary fines in addition to the towing of the car at the homeowner's expense."Because of the extremely low ground effects and body profile on his racing car, Peter is unable to drive his car off of the street and onto the driveway. He has parked on the street overnight for the past five weeks. He has received one written warning and one monetary fine from the HOA. What consequences should Peter expect after this week's security check?a.His car will be towed.b.He will receive another monetary fine.c.He will receive a monetary fine and his car will be towed.d.A "boot" will be place on his car to prevent him from driving it.

Answer
A
A
B
B
C
C
D
D

Explanation

The first infraction leads to a written warning. The second and third infractions lead to monetary fines, while towing applies only to further infractions past the third. Peter has received a warning and one fine, so this check would be his third infraction and he should expect another monetary fine, not a tow.

AI-written and checked against the verified answer.

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