Buyer Bert can't believe that Seller Sam has had a last-second change of heart about entering into an agreement to sell his home to Bert. Sam has offered to refund Bert's earnest money and even pay him something in acknowledgment of Bert's inconvenience and disappointment, but Bert's not having it. He wants Sam's house. Choose the remedy for breach of trust that Bert will most likely take. accept compensatory damages demand specific performance initiate rescission settle for liquidated damages 19:19
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- Anticipatory Repudiation. Moore contracted inwriting to sell her 2017 Hyundai Santa Fe to Hammer for$18,500. Moore agreed to deliver the car on Wednesday, andHammer promised to pay the $18,500 on the following Friday. On Tuesday, Hammer informed Moore that he wouldnot be buying the car after all. By Friday, Hammer hadchanged his mind again and tendered $18,500 to Moore.Moore, although she had not sold the car to another party,refused the tender and refused to deliver. Hammer claimedthat Moore had breached their contract. Moore contendedthat Hammer’s repudiation released her from her duty toperform under the contract. Who is correct, and why? (SeePerformance and Breach of Sales and Lease Contracts.)A bailment is a transfer of possession of personal property without a transfer of ownership; the receiving party agrees to return the property at a later time. Bailor is the owner and transferor of the goods. Bailee the party accepting possession of goods from a bailor. Sub-bailee is the party who received the property from the bailee. John, whose mother’s name, Maria, died. He contacted the funeral home, Thompson Funeral Home, to have the body of his mother cremated and her ashes stored in an urn. The urn was to be held until after the father of John died before deciding of what to do next. Four years later, the father of John died. The funeral home cremated the remains and placed them in another urn. The funeral home sought the instruction of John about what to do with two urns, but John was still unsure where he wanted to bury them. Later, John instructed the funeral home to send the urns to Westside Cemetery for burial in common grounds. Common grounds involve storage vault without…Please provide reaction on discussion below if you agree or disagree: William refrained from certain behaviors, as requested by his uncle, in exchange for a large sum of money. Since the executor of Story's estate refused to pay William, claiming that the contract lacked consideration, there is a theory of consideration that William can rely on. William can invoke the concept of forbearance, which he did by refraining from drinking liquor, using tobacco, swearing, and playing cards or billiards for money until he reached the age of 21. This act of forbearance on his part can be considered adequate consideration for the contract. In this case, even though refraining from liquor and tobacco has been beneficial for William's health, it can still be considered a legal detriment or forbearance for the contract. Considering the facts presented, William fulfilled his uncle's requirements, and Story acknowledged that William had fulfilled his part of the bargain. Based on this, there was valid…
- Jill is an American making dresses in Alabama whose business is based on U.S. dollars. Jill has agreed to accept 1,000 Euros for the dresses she sold to a customer in Europe, with payment due in one month. True or false, Jill's profit on this transaction would be less than she anticipated at the time of the agreement, if changes in the conversion rate for Euros into U.S. dollars after the date of the agreement meant that Euros were worth less in U.S. dollars on the day that the customer actually paid her the 1,000 Euros. True or False?Assume that before Rafael takes possession of the plane, Barron has begun to use it in his new business offering air tours of Glacier National Park in Montana. Does his use of the plane for business purposes impact the bank's security interest in the plane?In which of the following situations is the agent the only liable party for the contract? Multiple Choice The agent contracts with a third party through the medium of a non-negotiable instrument. The contract expressly includes the principal in the contract. The agent contracts with a third party knowing the third party would not enter into a contract with the principal if the principal's identity were disclosed. The third party contracts with the agent that does not require the agent's performance
- Dimitri lends his brother, Calvin, $1,800. Calvin and Willa agree that Calvin will build a new pool deck for Willa in exchange for Willa paying Dimitri $1,800. Calvin builds the pool deck, but Willa refuses to pay Dimitri any money. Can Dimitri sue for payment? O No, because Dimitri was not a party to the contract. O No. because Dimitri did not build the pool deck. O Yes, because Dimitri is a donee beneficiary. O No, because Dimitri is an incidental beneficiary. Yes, because Dimitri is a creditor beneficiary.Give typed full explanation Delany & Sons, Inc., owes Evermore Bank $50,000. Delany enters into a contract with Floyd under which Delany promises to manage and oversee Floyd’s Seaside Marina. Under the contract, Floyd promises to pay Evermore the amount that will be due Delany until his debt to Evermore is paid. Delany performs as promised, but Floyd does not pay the bank. Can Evermore succeed in a suit against Floyd? Why or why not?Which of the following represents an agency relationship? 1) Horace wants to sell his farm and hires Marcie as his realtor. The two agree that if Marcie finds a buyer for the farm at Horace's price, then Horace will pay Marcie 7% of the price he receives. 2) Bob dies and leaves his assets in a trust for his minor child, Lilly. In the trust, Bob appoints Reggie as the trustee to act for Lilly's benefit. Since Reggie has a fiduciary duty to Lilly as trustee, Reggie is Lilly's agent. 3) Lucy contracts to sell her car to Tony for $5,000. Tony purchases the car only to find it not in the condition that Lucy described it. Tony is claiming that Lucy violated her fiduciary duty to him as his agent under the agreement. 4) Hunt is an attorney of questionable ethics. Roger, one of Hunt's clients, is arrested for DUI, but appears to be too intoxicated to consent to a breath test. Hunt is contacted by…
- What is the test for whether a term is a condition? pick one answer from the following: The parties have described the term as a 'condition' or 'essential'. The promisee would not have entered the contract unless assured of strict or substantial performance of the relevant promise. Whether the term provides that performance of the contract is conditional on a contingency being fulfilled, such as finance being obtained, or development consent being granted. It was apparent to the promisor that the promisee would not have entered the contract unless assured of strict or substantial performance of the relevant promise.Why is past consideration no consideration at all? The adequacy of past consideration is difficult to determine. Past consideration is considered to be illusory. Past consideration may involve parties who are not involved in the current contract. Past consideration was provided before the current contract was made, and the current contract requires a benefit that has not yet been conferred.Salim is the owner of many buildings and hotels. Since he is a minor, his mother was his legally appointed guardian. Salimconvinced Omar to give him loan of 20,000 OMR with 12% interest. The loan was taken by mortgaging one of his properties. Omar gave 10,000 OMR as advance and Salim promised that he will return the money after one year. Salim’s mother informed Omar that anybody who would get into an agreement with him would do so at his own risk. After knowing this, Omar wants to get the advance he has given. Questions a.Is Salim bound to give the money back to Omar? Why or why not? b.Is this a valid contract? Explain why or why not?