A surveyor who is going to measure a property for the bank states that the location of the property cannot be found with the legal description given. This may mean that the: contract needs to be canceled immediately. seller owns the wrong piece of property. buyer is buying the wrong piece of property. prior deed may be clouded and the contract void.
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A surveyor who is going to measure a property for the bank states that the location of the property cannot be found with the legal description given. This may mean that the:
contract needs to be canceled immediately.
seller owns the wrong piece of property.
buyer is buying the wrong piece of property.
prior deed may be clouded and the contract void.
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- helpShould FedEx be liable for the alleged loss of valuable rare coins when FedEx did not know what the package contained. Rykard v. FedEx Ground Package System.Steve was hired to paint the outside of Denise's house for a price of $1500. Steve showed up everyday to paint and the job was completed in about three weeks. He told Denise he would come- to pick up his payment on Thursday. On Wednesday, Denise me py noticed that one of the spots on the back of the house needed to re-done because it looked messy. When Steve asked for payment Denise refused to pay him anything telling him that he did a messy job and he would have to sue her. Steve is entitled to payment under a theory of subjective contracts. Denise will win because Steve breached the contract. Steve is entitled to payment under a theory of substantial performance. Denise will win and not have to pay anything.
- Michael built a calculator (which graphs) using plans Michael found posted on the internet, but he unreasonably didn’t follow the plans when he constructed the calculator. Michael then sold the calculator to Jack who was injured when the calculator exploded because it hadn’t been built according to the plans. After the explosion Jack was taken to the Hospital emergency room (“ER”) where he signed a consent form authorizing Dr. Joe, the ER doctor, to perform a surgical procedure called Surgery X. But, instead Dr. Joe performed Surgery Y, a different procedure than Surgery X. A. What cause(s) of action should Jack use if he sues Michael for Jack’s injuries. Discuss. B. Has Joe, the ER doctor, committed any intentional torts? If so, discuss.What was the correct interpretation of condition 4 in DTR Nominees Pty Ltd v Mona Homes Pty Ltd (1978) 138 CLR 423? Choose one of the following. A plan containing the 9 lots being sold should have already been lodged for registration at the time of contract. The plan attached to the contract containing 35 lots could be registered in 2 stages, so long as the plan already lodged at the time of contract contained the 9 lots being sold. The plan attached to the contract containing 35 lots should have already been lodged for registration at the time of contract. The plan attached to the contract containing 35 lots could be lodged within 14 days of the contract being signed.Can the certainty of the object of the contract be negated by the failure of the parties to state the exact location of the property in the contract?
- Robert Robinson operates a bakery shop situated on a sharp bend in the road. A delivery truck failed to take the bend and badly damages the front of the bakery shop. Robert is undecided whether to restore the front of the bakery shop to its original condition at a cost of $25,000 or to spend $45,000 rebuilding the front of the bakery shop so that it has a much more modern appearance. Required: With reference to case law and legislation, advise Robert of the tax implications of: a) Restoring the front of the bakery shop to its original condition; and b) Rebuilding the front of the bakery shopMax and Jack enter into a contract which states: "Jack will paint Max's kitchen blue and Max promises to pay Jack $200 upon completion." Which is an example of an implied condition? That Max will pay Jack upon completion of the painting. That Jack will use blue paint when painting Max's kitchen. That Max will allow Jack access to his kitchen That Max will pay Jack $200.A married couple with two children owns a property that they have homesteaded. If the wife dies, what estate will the husband have in the property? a life estate, with their children as remaindermen a fee simple estate No estate: the children will inherit the house fee simple. It depends on what was in the wife's witt.
- Skip and Jack are the shareholders of the Blue Fish Event Corporation. Skip and Jack regularly put on classy events on or near the beach, so they have a special insurance policy to protect their assets. Business has been slow as fewer large beach weddings are taking place, so Skip and Jack use a large fan to blow down and damage most of their décor assets, some of which were personal assets of Skip and Jack, to collect the insurance benefits. (a) Assuming their acts are proven, will a court allow Skip and Jack to recover the insurance money? (b) Is this a situation where the corporate veil may be pierced? Why or why not? (c) What would it mean for Skip and Jack if the corporate veil is pierced in this situation?Marigold finds her dream home in the Rocky Mountains. She wants to buy it but is unsure whether she can get a loan. She signs a contract with the seller that she will buy the home provided that she can obtain a loan. Marigold also includes a clause in the contract with the seller stating that if she loses her job before the date the purchase contract is signed, the seller will release her from any obligation. After obtaining a loan and buying the home, Marigold decides she wants to have new windows installed. She enters into a contract with a window contractor. The window contractor visits the home, but never finds Marigold there. The contractor makes several attempts to reach Marigold, but Marigold does not return phone calls and makes no attempt to assist the contractor in arranging the window installation. What is the provision that the seller will release Marigold unless she is able to obtain a loan called? An exculpatory condition A condition precedent A condition…In 2012, Angela took out a $15,000 loan against the cash surrender value of her whole life insurance policy. The funds were required to help pay for remodeling and redecorating her home. As a consequences of taking out the loan Angela had to report $3,000 of policy gain in 2014. She repaid $5,000 of the loan at the end of 2015, as well as paying the $600 of loan interest due for the year. What were the tax consequences to Angela and the policy as a result of the 2015 payments? A. She will be able to deduct $5,600 from her taxable income for 2015 ad the ACB of the policy will increased by $2,000. B. She will be able to deduct $3,000 from her taxable income for 2015 and the ACB of the policy will increase by $2,600. C. She will not be able to claim any deduction from her taxable income for 2015 and the ACB of the policy will increase by $5,650. D. She will be able to deduct $3,600 from her taxable income for 2015 and the ACB of the policy will increase by $2,000