In S. Bosch's Algebra, exercise 3.4.2 is to find an error in the following existence proof of an algebraic closure of a field $K$ (my translation):
"Consider all algebraic extensions of $K$. Since for a totally ordered (w.r.t. inclusion) family $(K_i)_{i \in I}$ of algebraic extensions of $K$, the union $\bigcup_{i \in I} K_i$ is an algebraic extension of $K$, Zorn's lemma shows the existence of a maximal algebraic extension, i.e. of an algebraic closure of $K$."

In S. Bosch's Algebra, exercise 3.4.2 is to find an error in the following existence proof of an algebraic closure of a field $K$ (my translation):
"Consider all algebraic extensions of $K$. Since for a totally ordered (w.r.t. inclusion) family $(K_i)_{i \in I}$ of algebraic extensions of $K$, the union $\bigcup_{i \in I} K_i$ is an algebraic extension of $K$, Zorn's lemma shows the existence of a maximal algebraic extension, i.e. of an algebraic closure of $K$."

Added: Cf. https://math.stackexchange.com/q/621944/96384 for various discussions around, and actually working variants of, this flawed proof.