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Question Luis was in a pickle and is in need of money which led him to sell his grandson's collectible worth P500,000 for $350,000

Question Luis was in a pickle and is in need of money which led him to sell his grandson's collectible worth P500,000 for $350,000

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Question Luis was in a pickle and is in need of money which led him to sell his grandson's collectible worth $500,000 for $350,000 only. Luis grandson, Martin, found out. Does Martin have the right to file for the rescission of the contract? Using the facts from the preceding situation above, in place of Martin and his collectible, Luis's son-in-law, Jerome has neither been home for 3 years since he said he'd be on a vacation nor was there any news or contact from him and his car was left without any word as to what to do with it. Luis decided to sell Jerome's car. In what circumstance can Jerome cancel the contract?
Transcribed Image Text:Question Luis was in a pickle and is in need of money which led him to sell his grandson's collectible worth $500,000 for $350,000 only. Luis grandson, Martin, found out. Does Martin have the right to file for the rescission of the contract? Using the facts from the preceding situation above, in place of Martin and his collectible, Luis's son-in-law, Jerome has neither been home for 3 years since he said he'd be on a vacation nor was there any news or contact from him and his car was left without any word as to what to do with it. Luis decided to sell Jerome's car. In what circumstance can Jerome cancel the contract?
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