MINDTAP BUSINESS LAW FOR MANN/ROBERTS S
17th Edition
ISBN: 9781337094498
Author: Roberts
Publisher: IACCENGAGE
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Chapter 12, Problem 6Q
Summary Introduction
To discuss: The decision the given scenario.
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Stein, a mechanic, and Beal, a life insurance agent, entered into a written contract for the sale of Stein’s tractor to Beal for $6,800 cash. It was agreed that Stein would tune the motor on the tractor. Stein fulfilled this obligation and on the night of July 1 telephoned Beal that the tractor was ready to be picked up upon Beal’s making payment. Beal responded, “I’ll be there in the morning with the money.” On the next morning, however, Beal was approached by an insurance prospect and decided to get the tractor at a later date. On the night of .July 2, the tractor was destroyed by fire of unknown origin. Neither Stein nor Beal had any fire insurance. Who must bear the loss? Why?
Facts: On February 1, 2004, Buyer entered into a contract to buy Seller’s house in Las Vegas for $532,500 with a March closing date. On February 3, 2004 Seller notified Buyer that he was terminating the contract (without any legal basis for taking such action). The Seller then told Buyer that he would sell him the house for a higher price. On February 3, 2004, Buyer and Seller entered into a new contract for a price of $578,000. On February 16, 2004, the Seller refused to perform under the contract. The Buyer sued seeking to enforce the contract.
Question: Under the common law of contracts, is the modification to the original contract enforceable?
Deliverable: Write a clear, grammatically correct answer being sure to address the following points in your answer:
Provide a clear statement of the governing legal principle (also called a ‘black letter law’). The ‘governing legal principle’ in any case is the legal principle that is the key to completing the legal analysis of the problem…
Palmer made a valid contract with Ames under which Ames was to sell Palmer’s goods on commission from January 1 to June 30. Ames made satisfactory sales up to May 15 and was then about to close an unusually large order when Palmer suddenly and without notice revoked Ames’s authority to sell. Can Ames continue to sell Palmer’s goods during the unexpired term of her contract?
Chapter 12 Solutions
MINDTAP BUSINESS LAW FOR MANN/ROBERTS S
Ch. 12 - Prob. 1COCh. 12 - Prob. 2COCh. 12 - Prob. 3COCh. 12 - Prob. 4COCh. 12 - Prob. 5COCh. 12 - Prob. 1QCh. 12 - Prob. 2QCh. 12 - Prob. 3QCh. 12 - Prob. 4QCh. 12 - Prob. 5Q
Ch. 12 - Prob. 6QCh. 12 - Prob. 7QCh. 12 - Prob. 8QCh. 12 - Prob. 9QCh. 12 - Prob. 10QCh. 12 - Prob. 11QCh. 12 - Prob. 12CPCh. 12 - Prob. 13CPCh. 12 - Prob. 14CPCh. 12 - Prob. 15CPCh. 12 - Prob. 16CPCh. 12 - Prob. 17CPCh. 12 - Prob. 18CPCh. 12 - Prob. 19CPCh. 12 - Prob. 20CPCh. 12 - Prob. 1TSCh. 12 - Prob. 2TSCh. 12 - Prob. 3TS
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