Julie and Suresh conclude an agreement in terms of which they agree that Julie will pay Suresh the amount of R50 000 to murder her husband, Alex.
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Julie and Suresh conclude an agreement in terms of which they agree that Julie will pay Suresh the amount of R50 000 to murder her husband, Alex.
This contract is not valid and enforceable. Explain why not.
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- Paula, Fred, and Stephanie agree that Paula and Fred will form and conduct a partnership business and that Stephanie will become a partner in two years. Stephanie agrees to lend the firm $50,000 and take 10 percent of the profits in lieu of interest. Without Stephanie’s knowledge, Paula and Fred tell Harold that Stephanie is a partner, and Harold, relying on Stephanie’s sound financial status, gives the firm credit. The firm later becomes insolvent, and Harold seeks to hold Stephanie liable as a partner. Should Harold succeed? Explain.Marco decides to take $2,000 from the partnership for the repair and record it as an expense of the partnership. He believes that this is appropriate since he needs his car to get to work every day. Is Marco behaving ethically? Why or why not? Who is affected by Marco’s decision? What other alternatives might Marco consider?As a result of their divorce, Eric agreed to pay alimony to Tammy of $20,000 per year. The payments are to cease in the event of Fric's or Tammy's death or in the event of Tammy's remarriage. The alimony is not tied to their daughter with any conditions. In addition, Tammy is to receive their residence, which cost them $100,000 but is worth $140,000. a) How will the $20,000 payments be treated by Eric and Tammy if the divorce was finalized in 2018? b) How will the $ 20,000 payments be treated by Eric and Tammy if the divorce was finalized in 2019? c) Assume the alimony was tied to a condition surrounding their daughter. This condition states that once their daughter turns 18, the payments to Tammy drop by $12,000 per year. If all other conditions surrounding the payments remain true, how would the payments be treated assuming their divorce was finalized in 2018? In 2019?
- Louisa, worried about her cousin Garth’s dangerous obesity and seeming addiction to Power Up! promises to pay Garth, $10,000 if Garth stops drinking Power Up! and loses 100 pounds within the next two years. Garth agrees, performs his part of the bargain, and asks for the money. Louisa refuses to pay, saying that she forgot about the deal, but that even if she did make such a pledge, there was no valid consideration for it. Garth files a suit against Louisa. In whose favor is the court likely to rule, and why?A binds himself to give P10,000 to B upon the death of the father of A. Is the obligation of A conditional or one with a period? L (seller) sold his TV set to M (buyer), who gave L the option to deliver instead his refrigerator. Is L liable to M in case the TV is lost through L’s fault?Amy and Lester are partners in operating a store. Without consulting Amy, Lester enters into a contract to purchase $10,000 of merchandise for the store. Amy says she did not authorize the order and that she could have purchased the same merchandise for $7,000. Amy refuses to pay for the order. The vendor sues the partners. a. Must the partnership pay for the merchandise? If yes, how much? b. Assuming the partnership is a general partnership, can Amy’s personal assets be taken to pay for the merchandise?
- The following are conditional obligations, except * Dante to pay Carlos P 1,000, if Carlos has the means. Dante to give Carlos P 1,000, if Carlos passes the examination. Dante to give Carlos a horse, if Carlos marries X. None of the above.Riya writes an email promising to sell her car to Manish for $500, and Manish replies that he will pay Riya on the 24th of the month. On the 24th, Manish pays Riya and she gives him the title to the car. Manish and Riya have a(n) __________. a.) unilateral contract b.) implied contract c.) executory contract d.) executed contractSining stole a watch of Benita, then sold it to Goreng for the amount of 5,000. Goreng is in good faith. Can Sining recover the watch from Goreng?a. No, Goreng is good faithb. Yes, with reimbursement of 5,000 to Gorengc. Yes, without reimbursement of 5,000d. No, Sining need to file a court proceeding
- -G, guardian of M, sold the latter’s parcel of land worth P100,000 for only P90,000. Is the contract rescissible? Explain. -X orally sold his lot to Y for P500,000 and the latter gave an earnest money in the amount of P50,000 which the former acknowledged in a receipt. Later on, X refused to comply with the contract. Can Y enforce the contract against X? Explain.Ricky signed a contract to sell his slightly-used Suzuki Vitara Golf for $15,000 to an old friend Boris, after the latter threatened to tell Ricky's wife that Ricky is a discharged bankrupt. The vehicle still has a market value of $24,000. Boris told Ricky that if he didn’t sell his car to him, he will could always organise some of his former associates, who are all convicted felons, to visit Ricky and force him to do so. Advise Ricky on whether he has any remedies to have the contract declared void and get his car backFatima and Saira are sisters. They own a land. Fatima and Saira gave their land to Fatima's daughter, Mariam. The land was given to Mariam by Fatima on the condition that she will pay 200 OMR to Saira every year. The daughter agrees to the condition and signs the agreement, but later does not pay it. So, Saira has filed a complaint against Mariam. Questions a. Can Saira claim the payment from Mariam? Explain why or why not? b. Is the contract in this case enforceable by law? Explain why or why not?
