Homework Assignment 4 (This homework Assignment has 10 questions) Invalidating Assent and Consideration Homework Questions 1Anita and Barry were negotiating, and Anita's attorney prepared a long and...

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Homework Assignment 4 (This homework Assignment has 10 questions) Invalidating Assent and Consideration Homework Questions 1Anita and Barry were negotiating, and Anita's attorney prepared a long and carefully drawn contract, which was given to Barry for examination. Five days later and prior to its execution, Barry's eyes became so infected that it was impossible for him to read. Ten days thereafter and during the continuance of the illness, Anita called upon Barry and urged him to sign the contract, telling him that time was running out. Barry signed the contract despite the fact he was unable to read it. In a subsequent action by Anita, Barry claimed that the contract was not binding upon him because it was impossible for him to read and he did not know what it contained prior to his signing it. Should Barry be held to the contract? 2(a) Johnson tells Davis that he paid $150,000 for his farm in 2013, and that he believes it is worth twice that at the present time. Relying upon these statements, Davis buys the farm from Johnson for $225,000. Johnson did pay $150,000 for the farm in 2013, but its value has increased only slightly, and it is presently not worth $300,000. On discovering this, Davis offers to reconvey the farm to Johnson and sues for the return of his $225,000. Result? (b) Modify the facts in (a) by assuming that Johnson had paid $100,000 for the property in 2013. What result? 3.On September 1, Adams in Portland, Oregon, wrote a letter to Brown in New York City, offering to sell to Brown one thousand tons of chromite at $48 per ton, to be shipped by S.S. Malabar sailing from Portland, Oregon, to New York City via the Panama Canal. Upon receiving the letter on September 5, Brown immediately mailed to Adams a letter stating that she accepted the offer. There were two ships by the name of S.S. Malabar sailing from Portland to New York City via the Panama Canal, one sailing in October and the other sailing in December. At the time of mailing her letter of acceptance Brown knew of both sailings and further knew that Adams knew only of the December sailing. Is there a contract? If so, to which S.S. Malabar does it relate? 4.Adler owes Panessi, a police captain, $5,000. Adler threatens that unless Panessi discharges him from the debt, Adler will disclose the fact that Panessi has on several occasions become highly intoxicated and has been seen in the company of certain disreputable persons. Panessi, induced by fear that such a disclosure would cost him his position or in any event lead to social disgrace, gives Adler a release but subsequently sues to set it aside and recover on his claim. Will Adler be able to enforce the release? 5.Doris mistakenly accused Peter's son, Steven, of negligently burning down her barn. Peter believed that his son was guilty of the wrong and that he, Peter, was personally liable for the damage, since Steven was only fifteen years old. Upon demand made by Doris, Peter paid Doris $25,000 for the damage to her barn. After making this payment, Peter learned that his son had not caused the burning of Doris’ barn and was in no way responsible for its burning. Peter then sued Doris to recover the $25,000 he had paid her. Will he be successful? 6.Jones, a farmer, found an odd-looking stone in his fields. He went to Smith, the town jeweler, and asked him what he thought it was. Smith said he did not know but thought it might be a ruby. Jones asked Smith what he would pay for it, and Smith said $200, whereupon Jones sold it to Smith for $200. The stone turned out to be an uncut diamond worth $3,000. Jones brought an action against Smith to recover the stone. On trial, it was proved that Smith actually did not know the stone was a diamond when he bought it, but he thought it might be a ruby. Can Jones void the sale? Explain. 7. In consideration of $1800 paid to him by Joyce, Hill gave Joyce a written option to purchase his house for $180,000 on or before April 1. Prior to April 1, Hill verbally agreed to extend the option until July 1. On May 18, Hill, known to Joyce, sold the house to Gray, who was ignorant of the unrecorded option. Is there a contract between Joyce & Hill? Explain. 8.(a) Ann owed $2,500 to Barry for services Barry rendered to Ann. The debt was due June 30, 2016. In March 2017, the debt was still unpaid. Barry was in urgent need of ready cash and told Ann that if she would pay $1,500 of the debt at once, Barry would release her from the balance. Ann paid $1,500 and stated to Barry that all claims had been paid in full. In August 2017, Barry demanded the unpaid balance and subsequently sued Ann for $1,000. Result? (b) Modify the facts in (a) by assuming that Barry gave Ann a written receipt stating that all claims had been paid in full. Result? (c)Modify the facts in (a) by assuming that Ann owed Barry the $2,500 on Ann’s purchase of a motorcycle from Barry. Result? 9.George owed Keith $800 on a personal loan. Neither the amount of the debt nor George's liability to pay the $800 was disputed. Keith had also rendered services as a carpenter to George without any agreement as to the price to be paid. When the work was completed, an honest and reasonable difference of opinion developed between George and Keith with respect to the value of Keith's services. Upon receiving from Keith a bill of $600 for the carpentry services, George mailed in a properly stamped and addressed envelope his check for $800 to Keith. In an accompanying letter, George stated that the enclosed check was in full settlement of both claims. Keith indorsed and cashed the check. Thereafter, Keith unsuccessfully sought to collect from George an alleged unpaid balance of $600. May Keith recover the $600 from George? 10.The Snyder Mfg. Co., being a large user of coal, entered into separate contracts with several coal companies. In each contract it was agreed that the coal company would supply coal during the entire year in such amounts as the manufacturing company might desire to order, at a price of $55 per ton. In February the Snyder Company ordered one thousand tons of coal from Union Coal Company, one of the contracting parties. Union Coal Company delivered five hundred tons of the order and then notified Snyder Company that no more deliveries would be made and that it denied any obligation under the contract. In an action by Union Coal to collect $55 per ton for the five hundred tons of coal delivered, Snyder files a counterclaim, claiming damages of $1,500 for failure to deliver the additional five hundred tons of the order and damages of $4,000 for breach of agreement to deliver coal during the balance of the year. What contract, if any, exists between Snyder and Union? Homework Assignment 5 (This homework Assignment has 10 questions) Illegal Bargains and Contractual Capacity Homework Questions 1.Johnson and Wilson were the principal shareholders in Matthew Corporation, located in the city of Jonesville, Wisconsin. This corporation was engaged in the business of manufacturing paper novelties, which were sold over a wide area in the Midwest. The corporation was also in the business of binding books. Johnson purchased Wilson's shares of the Matthew Corporation and, in consideration thereof, Wilson agreed that for a period of two years he would not (a) manufacture or sell in Wisconsin any paper novelties of any kind that would compete with those sold by the Matthew Corporation or (b) engage in the bookbinding business in the city of Jonesville. Discuss the validity and effect, if any, of this agreement. 2. Wilkins, a Texas resident licensed by that state as a certified public accountant(CPA), rendered service in his professional capacity in Louisiana to Coverton Cosmetics Company. He was not registered as a CPA in Louisiana. His service under his contract with the cosmetics company was not the only occasion on which he had practiced his profession in that state. The company denied liability and refused to pay him, relying on a Louisiana statute declaring it unlawful for any person to perform or offer to perform services as a CPA for compensation until he has been registered by the designated agency of the state and holds an unrevoked registration card. The statute provides that a CPA certificate may be issued without examination to any applicant who holds a valid unrevoked certificate as a CPA under the laws of any other state. The statute provides further that rendering services of the kind performed by Wilkins, without registration, is a misdemeanor punishable by a fine or imprisonment in the county jail or by both fine and imprisonment. Discuss whether Wilkins would be successful in an action against Coverton seeking to recover a fee in the amount of $1,500 as the reasonable value of his services. 3. Michael is interested in promoting the passage of a bill in the State legislature. He agrees with Christy, an attorney, to pay Christy for her services in drawing the required bill, procuring its introduction in the legislature, and making an argument for its passage before the legislative committee to which it will be referred. Christy renders these services. Subsequently, upon Michael's refusal to pay her, Christy sues Michael for damage for breach of contract. Will Christy prevail? Explain. 4.Anthony promises to pay McCarthy $10,000 if McCarthy reveals to the public that Washington is a Communist. Washington is not a Communist and never has been. McCarthy successfully persuades the media to report that Washington is a Communist and now seeks to recover the $10,000 from Anthony, who refuses to pay. McCarthy initiates a lawsuit against Anthony. What result? 5.Charles Leigh, engaged in the industrial laundry business in Central City, employed Tim Close, previously employed in the home laundry business, as a route salesperson. Leigh rents linens and industrial uniforms to commercial customers; the soiled linens and uniforms are picked up at regular intervals by the route drivers and replaced with clean ones. Every employee is assigned a list of customers whom she services. The contract of employment stated that in consideration of being employed, on termination of his employment, Close would not “directly or indirectly engage in the linen supply business or any competitive business within Central City, Illinois, for a period of one year from the date when his employment under this contract ceases.” On May 10 of the following year, Close’s employment was
Answered 4 days AfterMay 27, 2021

Answer To: Homework Assignment 4 (This homework Assignment has 10 questions) Invalidating Assent and...

Sanjukta answered on May 31 2021
132 Votes
LAW 13
Law
Homework Assignment 4
Invalidating Assent and Consideration Homework Questions
1.
Acceptable- In most of the times one who tend signs a contract agreement is attempted to know its substance and can't get away from the conditions of the agreement by guaranteeing that he didn't peruse the agreement. Along these lines, Mr. B, who went briefly visually impaired and couldn't peruse an agreement with Mrs. a proceeding marking it, ought to be held to the agreem
ent except if he was under coercion or subject to excessive impact at the time he consented to the arrangement. It is quite evident that although Barry had no such idea in terms of what was said by the contract, it was not the fault of Anita. Furthermore, he also signed the contract at his free will.
Not acceptable: Fraud- Yes, definitely the decision is directly in favour in terms of Anita as well as against Barry. Furthermore, Barry’s defines that the contract was not at all binding upon him simply because he had not as well as could not have read it before signing is not at all valid. No duress, so he must be held to the contract as it is a unilateral mistake. Moreover, Barry also could not prove a defines that is based on the duress as Anita did not compel him physically nor force Barry by the threats for manifesting assent to proposal. It is quite evident that Barry could have easily have had someone to read the contract to him or even reviewed it by the attorney.
2.
Decision for the Davis- The statement of Johnson to David highlights the fact Davis already paid the above-mentioned amount for the farm and this declaration is not true in terms of the material fact, upon which David had every rights to rely on it (Law, 2015).
Decision for Johnson- It can be said that Davis is not at all entitled in terms of returning the $225, 000 as long as it was believed by Johnson that the farm was worth almost about $300,000. The statement of Johnson with the respect of farm’s value was mainly expressing the opinion and not at all the declaration in terms of the fact upon which David had every right to rely.
3.
Mistake- There is a contract and it is directly related to the SS. Malabar sailing in the December. On the other hand, it can be said that in the classic Peerless case (Raffles v. Wichelhaus, 2 Hurlstone and Coltman Reports 906) mainly there were two ships that was sailing from the Bombay and both were named as the Peerless. However, in this case the defendant only know that just of the "Peerless" cruising in October and the offended party knew distinctly of the "Peerless" cruising in December. There was no gathering of the personalities and subsequently, no agreement. Here, since Brown knew about the two sailings and further realized that Adams didn't know about the October cruising, she, Brown, won't be heard to say that she planned the chromite to be delivered on the S.S. Malabar cruising in October. Adams and Brown showed a common purpose to an offer of chromite to be dispatched on the S.S. Malabar cruising in December
4.
One of the main questions is the ability of Adler in terms of enforcing the release from the debt he owes relies on the situation’s circumstance. The main rule of contract law that is considered in this particular situation is Duress. However, it is needless to say that there are 2 sides of this argument:
Acceptable: Adler will be able to enforce the contract for the purpose of escaping the obligation of the debt toward Panessi because he has committed a crime despite of being a police officer.
Unacceptable: Adler will not be able to enforce the contract for escaping the debt commitment to Panessi as making threats concerning signature is not at all considered to be legal.
5.
Mistake- Yes judgement for Peter against Doris for $25,000. The payment was mainly made under a mistake that was mutual in terms of the material fact. Furthermore, both Doris and Peter believed mistakenly that barn of Doris had been carelessly singed by the child of Peter, Steven. Be that as it may, in actuality Steven didn't on the grounds that the consuming of the Doris' outbuilding just as there was no chance answerable for its consuming. Despite what is generally expected, an instalment that is committed under the common error of actuality is totally recoverable under the principle of semi agreement.
6.
Mistake: Nature of the Subject Matter. It can be said that no, Jones have no right to void the sale. The common obliviousness upon the piece of Smith and Jones as far as the worth of topic didn't forestall the plan concerning a legitimate agreement. Also, both of the gatherings comprehended that 200 dollars needed to be traded for the stone. It is obviously that there was no mix-up concerning the topic of the arrangement. Neither there was nor any sort of distortion or extortion that occurred (White, 2020).
7.
Joyce would be arguing that Hill agreed in terms of extending the option as well as must respect that particular extension. Hill would argue that the extension was not at all binding hence invalid.
Issue- the main issue is whether or not the issue was binding or not
The concept- The contract modifications can be applied here under the rule of the contract law.
Reasoning- It is quite evident that Hill will be winning this particular dispute as Joyce knew about the sale that he made to Grey. It is stated by the UCC that a contract is not at all valid without the new consideration as long as the modification was made with the faith that is good which is personally believed that Joyce already knew about the sale. In terms of implications, the main consequence is that Hills sold his house to Joyce and Grey is back on the marketplace for a house.
8.
a) Repayment of an undisputed obligation. Choice for Barry. It can be said that as this debt took place from a contract for services, then the common law of contracts is highly applicable. Furthermore, at the common law the payment of the...
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