Answered: James sold his 1965 e-type Jaguar car… | bartleby

Related questions

Question

James sold his 1965 e-type Jaguar car to Shirley for $18,500. During the negotiations James claimed that the car was actually a 1963 model, which were rarer, and therefore more valuable. Shirley, who was 17 at the time of purchase, bought the car on the understanding it was the 1963 model. Are all the elements of a valid contract present? Explain your answer.

Expert Solution

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Blurred answer

Similar questions

sanjay
Ming entered into a contract with Lee to supply Lee with smuggled cigarettes. Lee received the smuggled cigarettes and tried to sell them off at a profit. However, due to the COVID-19 pandemic, Lee could not find any buyer for the smuggled cigarettes. Without any profit, Lee was unable to pay Ming the outstanding sum under their contract. Required: Analyse whether Ming is entitled to seek assistance from the court to claim back the outstanding sum under the contract from Lee. Support your discussion with relevant legal principles and cases, if any.
Abigail is in the business of selling fine antiques. Abigail purchased an antique desk for $5,000 from Jackson, and gave a promissory note for payment. Concerned that Jackson might not accept the note, Abigail had her friend Catalina sign the promissory note as well. Jackson accepted the note as payment. Two weeks later, Jackson sought payment on the note. Abigail told Jackson that she is not responsible for the promissory note because Catalina signed the note too, and Jackson had to seek payment from Catalina first. Abigail also spotted a beautiful set of vintage chairs owned by Max that would be perfect for her store. Abigail wrote a $10,000 check, also signed by her business associate Orville as an accommodation party, to Max to pay for the chairs. Max presented the check to Westville Savings, the bank where Abigail has a checking account, for payment. Westville Savings dishonored the check claiming Abigail had insufficient funds. Who is liable for these negotiable…
Spritz signs a contract that says that she will paint a mural of her friend Hecuba in exchange for Hecuba giving Spritz the secret recipe to Hecuba's beloved banana sushi. Spritz labors day and night painting the mural, however when she finally finishes and asks for the recipe, Hecuba laughs and points to an area of the contract which has extremely fine print (only legible to people with magnifying glasses). This incredibly small print says that Spritz must also paint 40 murals of Hecuba all around the city before getting the recipe. Even though Spritz knows that she has signed this document with a level head, she sues. Does she have a case against Hecuba? Yes, and Hecuba will probably have to personally scrub away the first mural as punitive damage. Yes, a reasonable person would have missed the fine print. No, because she already painted the first mural. Yes, a reasonable person could not paint 40 murals. O No, Spritz's signature on the document created a legally binding,…
Henk made an oral contract with Joel's garage to work as the manger of the garage for the next two years. Joel wrote Henk a letter stating all of the terms of the oral contract and signed the letter. Joel refuses to honor the agreement so Henk sues for breach of contract. Joel contends that their agreement can’t be enforced because it was a two-year contract and had to be in writing under the Statute of Frauds. Who wins the suit? Why?
Broker Juanita is in a single agent relationship with Seller Mike when one of Juanita's sponsored sales associates brings a buyer to the transaction. Select the statement that indicates what Juanita will need to do with respect to her relationship with Seller Mike if the buyer remains in a transaction broker relationship with the sponsored sales associate. No further actions are needed with respect to Mike's relationship. move Mike to a transaction broker relationship by having him sign a consent to transaction disclosure notice move Mike to a transaction broker relationship without informing him
2. Seller and Buyer negotiate for the sale of 100 acres of land. They orally agree on a price of $100,000, with payment to be made within 10 days and the deed delivered within another 30 days. Buyer sends Seller a letter in which all these terms are included, along with a check for $100,000 that Seller deposits. Seller fails to deliver a deed, and Buyer seeks to enforce the contract. Is the contract enforceable?
Emily, seeking to induce Nishi Whiskey, LLC (Nishi), to make a contract to buy a tract of land at a price of $5,000 an acre, tells Nishi that the tract contains 100 acres. Emily knows that it contains only 90 acres. Nishi is induced by the statement concerning the acreage to make the contract. Is the contract voidable by Nishi? Explain
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…
A8
Dorian breeds Scottish Fold kittens and informs Stevie that she is a cat breeder. Stevie says she is interested in purchasing one of her kittens. Dorian calls Stevie a month later and says Stevie’s kitten is ready for pickup and Stevie owes her $1,000. Stevie refuses, stating they did not have a valid contract. Dorian states they did have a valid contract. Who is correct?
A 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.

SEE MORE QUESTIONS