Tom, a minor sold a parcel of land to jason in the amount of 1,000,000.00 1. What is the status of the contract and why
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Tom, a minor sold a parcel of land to jason in the amount of 1,000,000.00
1. What is the status of the contract and why?
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- Mai enters into an agreement to sell an antique bedroom set to Alice for $200,000 because it is exquisite and unique. Madison offers to pay Mai $250,000 for the furniture. Mai calls Alice to cancel the contract. Is this a type of contract where usually contains a liquidated damages clause? Why or why not?Pollard Ltd. is a publisher, specializing in producing fictional books. In January 2023, they decided to produce a new edition of a particular book and contracted Jane and Donald. Jane will provide the text and Donald will produce the extensive diagrams. Each of them are to be paid $50,000. The contract between Pollard Ltd and Jane required the text to be produced by 30th April 2023. The terms of Donald’s contract required the diagrams to be submitted by 30th June 2023. In March 2023, Jane informed Pollard Ltd that she would not supply the finished text on time, unless Pollard Ltd increased her payment by $10,000. Pollard Ltd agreed to the increase. However, when Jane submitted her invoice on delivery of the text on the 28th April 2023, Pollard Ltd refused to pay the additional amount of $10,000, arguing that they will only pay the contracted sum of $50,000. Since Jane was merely performing what she was contracted for and did not provide any additional services to warrant any…Xavier purchased a condominium unit at Atmos Towers in January 2018 for P 3,000,000. In the agreement, Xavier will pay a 20% downpayment and thereafter pay a monthly installment fee of P 65,000 for 60 months. In June 2020, or after paying 29 monthly installments, Xavier failed to pay his obligations because his fast-food business went bankrupt due to the pandemic. (a) What are the rights of Xavier under the Maceda Law? (b) In the above case, how much is the cash surrender value that must be returned to Xavier in case he fails to pay after the grace period?
- Bakar is a renowned pastry Mama Cafe, a sole proprietorship, is a well-known restaurant in need of hiring a pastry chef. Bakar and Cafe’s Owner had extensive conversations regarding Bakar coming to work at Cafe. On May 1, a week after those conversations occurred, Bakar sent Cafe a signed letter dated May 1 stating, “I will work for Cafe as a head pastry chef for two years for an annual salary of RM50,000.” On the morning of May 7, Cafe’s Owner telephoned Bakar and said, “The RM50,000 is pretty stiff. Could you possibly consider working for less”? Bakar replied: “I am a renowned pastry chef. I will not work for any less.” Later that morning, Cafe’s Owner sent Bakar a signed letter by regular mail stating: “You obviously think you are too good for my restaurant. I am no longer interested in hiring you to work at Cafe.” Later that afternoon, Cafe’s Owner had a change of heart and sent Bakar a registered, express-mail signed letter stating: “Okay, if you really won’t work for less, I…. Spouses Robert and Yollie wanted to sell their house. They found a prospective buyer, Nina, Yollie negotiated with Nina for the sale of the property, They agreed on a fair price of million. Nina sent Yollie a letter confirming her intention to buy the property. Later,another couple, Marius and Ellen, offered a similar house at a lower price of 1.million. But Nina insisted on buying the house of Robert and Yollie for sentimental reasons. Nina prepared a deed of sale to be signed by the couple and a managers check for million. After receiving the million. Robert signed the deed of sale. However, Yollie was not able to sign it because she was saying she changed her mind. Yollie filled suit for nullification of the deed of sale and for moral and exemplary damages against Nina Does Nina have any cause of action against Robert and Yollie?Quasi Contracts. Chad Parker owned an acre of property and a mobile home on that property. Hesold the mobile home to David and Allison Wilson for $1,000 and sold the property to them for$10,000. These agreements were made orally. No title or deed transfers took place. The Wilsonslived in the mobile home for seven years, making $11,228.19 of improvements to the structureand to the property. After a falling out between Chad and David, Chad had the Wilsons evictedand moved back into the mobile home. Because there was no written contract between theparties, could Chad therefore legally evict the Wilsons and legally move back into the mobilehome?
- In September, Amina hired Bryan as a delivery man. Bryan was to commence work on 1 November. On 1 October, Amina wrote to Bryan telling him that, despite their agreement, economic circumstances were such that she no longer required his services. Can Bryan sue Amina? Explain your answers in light of the principles learned on breach of contract. SOlve it with IRAC methodHarry, Beatrice, and Mallory are neighbors. They each have young children, and the three of them - Harry, Beatrice, and Mallory - decide to build a waterslide for their children to enjoy. They also agree to split the cost of fixing the waterslide if anything happens to it. Eventually, the slide breaks, and it will cost $180 to repair it. Beatrice proposes that they buy a new slide for $300. Harry agrees and they purchase it without speaking to Mallory. For how much of the cost is Mallory responsible? Ⓒ$100 O $0 $60 O $180 Ⓒ$300Set out the differences between essentialia, naturalia and incidentialia comprised in a contract. with examples.
- John owns a small rental cottage in St Augustine and his mother Brenda lives nearby in a rented apartment. He is concerned about her having a secure home to live in after her retirement so he decides to convey the cottage to her for the rest of her life, after which, ownership will revert to him. What would John's attorney probably have advised him to do to achieve these goals? Establish a Trust with his mother as one of the trustees Convey a tenancy at sufferance to Brenda. Convey a tenancy by the entireties to Brenda, pur autre vie. О Convey a life estate to Brenda with the right of reversion to John.Arif is 75 years old and managed to accumulate an estate of more than $2 million, including a house valued at $700,000 and investment assets worth $1.3 million. Arif's wife died 2 years ago. His two children and Arif's new girlfriend believe they will inherit the estate assets. When Arif was in the hospital, he spoke his last words by giving instructions as to how to distribute his estate. Unfortunately, Arif did not have a valid Will at his death. Which of the following statements is true? 1. The estate assets will be distributed according to the intestacy provisions of the province in which Arif lived. II. Arif did not die intestate. III. Arif's last words in the hospital can be considered as a letter of last instruction. IV. Arif's estate will be distributed based on preferential share. Select one: O a. I, II, and IV O b. I, III, and IV O c. I and IIPLEASE ANSWER THIS QUESTION ASAP!!!
