The Legal Environment of Business: Text and Cases (MindTap Course List)
10th Edition
ISBN: 9781305967304
Author: Frank B. Cross, Roger LeRoy Miller
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
Chapter 12, Problem 1CT
Summary Introduction
Case s ummary :The person L many a time approached the person Z to buy his property. One day while consuming whiskey, the person Z finalized the deal of the farms at a price of
To Find :The effect on the judgment of the court when the person L decides not to buy the farm, and the person Z has persisted.
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
True/False
10. If John remarks to Jane that her employment will be based upon granting him sexual favours,this type of contract would be considered____________________.A. Voidable as Jane may assert that Lee is suffering from substantial mental incapacity.B. Necessary in order for Jane to obtain her job.C. Void as it is an immoral contract that is against public policy.D. A covenant not to compete for other job opportunities.
Now explain what would be Harvey's best argument in response to the argument on provocation? In other words, argue on behalf of Harvey that there was no provocation of the dog. (Messa v. Sullivan)
Assume that Elkins contracted to build an addition to Cromwell’s plant producing cruise missiles just prior to the Gulf War. The war ended before Elkins started work, and Cromwell tried to cancel the contract. Can Elkins do anything about the loss of his anticipated profit (a) if the contract contained a proper cancellation clause? (b) if the contract contained no clause dealing with cancellation?
Chapter 12 Solutions
The Legal Environment of Business: Text and Cases (MindTap Course List)
Knowledge Booster
Similar questions
- On Chapter 12, Recognizing Employee Contributions with Pay; define Principal and define Agent. Also, what is the difference between outcome-oriented and behavior oriented contracts?arrow_forwardState whether the following agreements or contracts are void, voidable valid, and provide a reason for your answer. 1 ) Taylor, aged 17, gets married, and divorces two months later. After getting divorced, she enters into a contract with Michael for the sale of his house. ( 2 ) Jessica, aged 5, enters into a contract with John, aged 11, for the sale of his bicycle. 3 ) Nomsa, aged 16, runs a successful boutique with the consent of her parents, and enters into a contract relating to her business. 4 ) Amy, who is 17, has inherited an apartment in Cape Town from her deceased father. The apartment is valued at R2 million. With her mother’s assistance, Amy enters into an agreement to sell the apartment to her aunt. 5 ) Justin, who is mentally ill, concludes a contract for the sale of his laptop without his curator knowing. (2)arrow_forwardIs there any exception to the rule that a mistake of law cannot vitiate consent rendering the contract voidable? Explain.arrow_forward
- Brandt Crossing Investments, Inc., was a family-owned property investment organization, investing in undeveloped properties when prices were low and then selling them when prices went up. Among its holdings, Brandt Crossing owned fifty acres of undeveloped land next to another fifty acres of undeveloped land owned by Khloe Hadid. Carter Rios, property manager for Brandt Crossing, approached Hadid and offered to purchase her fifty acres “for Brandt.” Hadid sold the property for $50,000. Within one year, Brandt Crossing sold its 100 acres, including the property bought from Hadid, to a developer for $1,000,000. Richard Brandt, a 5% owner of Brandt Crossing Investments and an old high school acquaintance of Hadid, saw her at the mall and told her of the recent sale. Furious that she had lost out on the income and convinced that Rios had misled her, Hadid sued Richard Brandt for the acts of his agent, Rios. Hadid argued that the facts were sufficient to create an agency by estoppel…arrow_forwardCourtney and Jonathan agreed that Jonathan would paint Courtney's home for $800 with Courtney supplying the paint. Jonathan went to Courtney's home on several occasions to do the job, but she never had the paint. Finally, he moved on to other jobs. Six months later, Courtney sued Jonathan for not painting her home. Who is likely to win and why? Include the legal term for Jonathan's offer of performance.arrow_forwardA got into a vehicular accident with B due to the fault of the latter. The case could very well fall under the crime of Reckless Imprudence Resulting to Physical Injuries in addition to suit for collection of money, but A opted not to file a criminal case against B since such filing of criminal case against a churchmate would mean his dismissal from their church. Instead, A chose to file a case for collection of sum of money only based on their agreement that B will pay A for all the expenses incurred by reason of the accident except for the repair of the car since B will directly pay the same to the A’s insurance company. However, B refused to pay A for his travel expenses and meal allowances when he travels to the repair shop during his routine check-ups on the progress of the repair even after A insisted on B’s agreement to pay all the damages. Whose contention is correct? Is it B’s refusal to pay A’s expenses during routine check-ups or is it A’s insistence on B’s liability to pay…arrow_forward
- The statute of limitations in Texas is a.four years for a written contract. b.four years for an oral contract for a 6-month lease. c.four years for all contracts for the sale or lease of real property in Texas. d.six years for a written contract.arrow_forwardIn 2010, X and B agreed that they will pretend that they will enter into a contract of sale so that X will have a lesser tax to pay. In the contract of sale, it was indicated that X will sell the car for P50Million to which B agreed. What is this kind of contract? A. Absolute simulation B. Relative simulation C. Factual simulation D. Fictional simulationarrow_forwardSally and Tom decide to go into business, selling discounted merchandise through their website “e-Buy.” They sign a partnership agreement that requires Sally to contribute $12,000 and Tom to contribute $8,000 in capital to start the firm. The agreement also states that only Sally will have the authority to bind the partnership in deals with third parties, but the agreement says nothing about the management of the firm or a division of profits. Without Sally’s knowledge, Tom tells United Computer Products, Inc., that he represents the firm and signs a contract with United to buy hard drives for resale on e-Buy. In the first year, e-Buy makes a profit of $50,000. What are the partners’ rights with respect to the management of the firm? Is the partnership bound to the contract with United? Do the partners split the first year’s profits? If so, how much is each entitled to?arrow_forward
- if David agrees in consideration of $1,000 to mow his elderly neighbor’s lawn “for as long as she lives next door to him,” does the contract have to be in writing? why or why not? what is the rule regarding the ability of a person who is not a party to a contract to enforce a contract?arrow_forwardThe manager of Palms Restaurant assembles all employees and announces that because theft isoccurring, she would fire employees until the guilty party confessed. Turning to an employee, Alice, themanager says, "You're fired." Palms Restaurant is in an employment-at-will state. Discuss if Alice has anylegal remedy against Palms.arrow_forwardMelani sold a silver-looking laptop case to Bente for $2,500. Both honestly believed that the case was made of 95% platinum and 5% ruthenium. Jossie later learned that the briefcase was made of 100% inexpensive sterling silver with gold plating on the handles and corners. Explain whether Jossie can rescind the contract with Melani.arrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
BUSN 11 Introduction to Business Student EditionBusinessISBN:9781337407137Author:KellyPublisher:Cengage Learning
Essentials of Business Communication (MindTap Cou...BusinessISBN:9781337386494Author:Mary Ellen Guffey, Dana LoewyPublisher:Cengage Learning
Accounting Information Systems (14th Edition)BusinessISBN:9780134474021Author:Marshall B. Romney, Paul J. SteinbartPublisher:PEARSON
International Business: Competing in the Global M...BusinessISBN:9781259929441Author:Charles W. L. Hill Dr, G. Tomas M. HultPublisher:McGraw-Hill Education
BUSN 11 Introduction to Business Student Edition
Business
ISBN:9781337407137
Author:Kelly
Publisher:Cengage Learning
Essentials of Business Communication (MindTap Cou...
Business
ISBN:9781337386494
Author:Mary Ellen Guffey, Dana Loewy
Publisher:Cengage Learning
Accounting Information Systems (14th Edition)
Business
ISBN:9780134474021
Author:Marshall B. Romney, Paul J. Steinbart
Publisher:PEARSON
International Business: Competing in the Global M...
Business
ISBN:9781259929441
Author:Charles W. L. Hill Dr, G. Tomas M. Hult
Publisher:McGraw-Hill Education