BUS 200 - 226
Professor Margaret Parker
Chapter 10 Additional Questions # 1, 2, 4, 7, and 8
1. Brockwell left his boat at Lake Gaston Sales to be repaired. Brockwell was required to sign a form that states that Lake Gaston Sales has no responsibility for any loss to any property in or on the boat. After the repair, Brockwell is missing electronic equipment and other items of his are damaged. Lake Gaston Sales is using an Exculpatory Clause. In some cases an exculpatory clause is may be unenforceable. Items damaged and stolen from Brockwell’s boat could be a result from Lake Gaston’s Sales’s negligence of taking care of and respecting customer property. This Exculpatory Clause likely will not be enforced because it is seeks…show more content… An agreement or contract can be rescinded if misrepresentation and fraud from a party is present. The McAllisters knew about the house’s issues before the sale and made fraudulent misrepresentation by stating that the I-beams are present for reinforcement when they were actually installed to keep a wall from buckling. The Silvas will be able to rescind the contract or agreement to buy the house or sue for damages.
7. Lonnie Hippen moved to Long Island, Kansas and started working at an insurance company owned by the Griffiths. Soon after moving the Griffins offered to sell him a house. Hippen purchased the house but left the insurance company two years later and claimed that the Griffiths orally agreed to buy back the house at its selling price if Hippen were to ever leave. Griffiths defended on the basis of Statute of Frauds and Hippen argued that the statue of frauds did not apply because the repurchase of the house was part of his employment with the Griffiths. Contracts that cannot be performed within a year are not enforceable unless they are in writing. Two years has passed when Hippen is ready to sell back the house. Any oral agreements will not be enforceable, therefore; Griffiths will not be required to buy back the house.
8. A Landlord owns a clothing store and agreed to lease the store’s basement to another retailer. The written lease was signed by both parties and included exact details of the premises,