Gemma promises a local hardware store that she will pay for a lawn mower that her brother is purchasing on credit if the brother fails to pay the debt. Must this promise be in writing to be enforceable? Why or why not?
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Gemma promises a local hardware store that she will pay for a lawn mower that her brother is purchasing on credit if the brother fails to pay the debt. Must this promise be in writing to be enforceable? Why or why not?
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- 1.A borrowed P30,000.00 from B to be paid on September 10, 2016, in exchange for the loan, A surrendered his Iphone7 to B as security. On September 11, 2016, B demanded that A pay the P30,000.00 loan. Since A do not have enough money, he just told B that B can just have his Iphone/ as payment for his loan to which B agreed. Is the contract extinguished? Explain . 2. A, B, C and D are the solidary debtors of X for 240,000. X released D from the payment of his share of P10,000. When the obligation became due and demandable, C turned out to be insolvent. Considering the said incidents, what are the liabilitites of A, B, C, and D? 3. Aida, Lorna and Fe borrowed money from Juan, Pedro and Mario P3,000.00. Aida's obligation is due today, September 5, 2019, Lorna is a minor and Fe's obligation is due on September 10, 2019. Can Pedro alone proceed against Lorna alone for the payment of the entire P3,000.00? Explain . 4.Explain and Give an example of the following modes of extinguishing an…John goes to a bar. Harry starts to talk to him about a car he has for sale. John tells him he wishes he could buy the car but does not have that much cash. Harry tells John he can make payments over the next year. Harry writes on a napkin John shall pay me $100.00 per month for 12 months starting December 1, 2018. They both sign and date the napkin. Discuss whether this is a negotiable instrument. Defend your position. Ensure you discuss each element of negotiability.Katee gets car insurance from Luna Insurers Enterprises, Inc. ("LIE, Inc.). Every six months, LIE, Inc. automatically renews Katee's policy and charges Katee's credit card for the next six months. This process has been occurring for five years. One week after the automatic renewal, Katee is in a car accident, and her car is totaled. LIE, Inc. refuses to pay and claims there is not a valid contract. Was there a valid contract? O No. because Katee never agreed to silence as a form of acceptance. No, because silence is never acceptance. Yes, because Katee's account was charged. Yes, because the parties agreed to silence as acceptance arrangement. Yes, because Katee did not cancel within 24 hours of her card being charged.
- 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. demand specific performance initiate rescission accept compensatory damages settle for liquidated damagesA man named Bob Smith believes that he is Santa Claus (who delivers presents to all the children around the world on Christmas Eve). In fact, he is not Santa, but he has believed this for many years. He signs his name "Santa." He signs many contracts as "Santa," and he refers to his wife as "Mrs. Claus" even though her name is actually Betty Smith. She puts up with it, because he really does believe he is Santa, and because she loves him and because his wages from his job at Hasbro toys pays the bills. One day he enters a contract with your company to hire you to build him a gigantic workshop in his backyard so he can build his toys and stable his "eight tiny reindeer." In return he will pay you $120,000 for the construction. When his wife learns of this deal, she tries to reject it because it is voidable due to his lack of contractual capacity. Was this contract voidable, or valid and enforceable? Answer the questions.Bill offers to sell Mary his computer for $500. Mary counters with an offer of $400 Bill rejects this offer. Mary tells Bill: "OK, I'll buy the computer for $500." Bill tells Mary: "I've decided not to sell the computer after all." Bill is in breach of contract because Mary made a valid offer. True False
- 11DigiTech Corporation pays its employees every two weeks. Eve gets her paycheck, indorses the back (“Eve Anderson”), and, on her lunch hour, goes to cash it at DigiTech’s bank, First State Bank. On the street, in a crowd, she loses the check. Greg Smith finds it. Has the check been negotiated to Greg? Greg signs the back of the check beneath Eve’s signature and cashes it. What might Eve have done to avoid this loss?help
- Your friend calls you on the phone and says that he has gotten a great deal on a large quantity of illegal iPads and wants you to help him sell them. He offers to give you half of all the money that is received. You agree to the suggestion but then call the police and tell them what has transpired. Has the situation gone far enough at this point to solicitation? What information do you have that would justify charging your friend with solicitation?A rented a car owned by B for 50$ going to Seoul. Under the condition the A will cover the expenses for gasoline and will return the car after 18 hours. When A was already in Seoul, A parked the car in the park. The car was lost. The car is 700$ worth. What are A's obligations now under the concept of simple loan or mutuum? Will A just pay 50$ or 700$ to B?Explain. What should be the responsibility of A in relation to the lost rented-vehicle?Max 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.