Bundle: Smith and Roberson’s Business Law, Loose-Leaf Version, 17th + MindTap Business Law, 1 term (6 months) Printed Access Card
Bundle: Smith and Roberson’s Business Law, Loose-Leaf Version, 17th + MindTap Business Law, 1 term (6 months) Printed Access Card
17th Edition
ISBN: 9781337497664
Author: Richard A. Mann, Barry S. Roberts
Publisher: Cengage Learning
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Chapter 6, Problem 2Q
Summary Introduction

To discuss: Whether person S was guilty for the forgery.

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Melani 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.
Please provide reaction on discussion below if you agree or disagree: William refrained from certain behaviors, as requested by his uncle, in exchange for a large sum of money. Since the executor of Story's estate refused to pay William, claiming that the contract lacked consideration, there is a theory of consideration that William can rely on. William can invoke the concept of forbearance, which he did by refraining from drinking liquor, using tobacco, swearing, and playing cards or billiards for money until he reached the age of 21. This act of forbearance on his part can be considered adequate consideration for the contract. In this case, even though refraining from liquor and tobacco has been beneficial for William's health, it can still be considered a legal detriment or forbearance for the contract. Considering the facts presented, William fulfilled his uncle's requirements, and Story acknowledged that William had fulfilled his part of the bargain. Based on this, there was valid…
After the untimely death of his partner Anthony Autumn, Scott Schroder continued his San Francisco agency under the name of Scott Schroder. Several years later, one Sarah Schroder visited his office claiming to be his daughter. Sarah demanded that Scott make him a partner in his agency, but Scott refused. Scott told Sarah, "I’ll never take on another partner as long as I can walk. But if you want to work for me, I’ll buy you a yellow trench coat and all pens you want and pay you $20 a week plus expenses and 20% of the profits." Scott Schroder continued to carry on the agency’s business in the name of Scott Schroder. Nevertheless, when occasional bills arrived in the name of Schroder & Schroder, he was as likely to pay those bills as any others. Sarah never complained. Maybe some day he’ll really treat me like a partner after all, she mused. Ten years later, Scott is often absent from work and when he is there doesn't do any work.  Business fell off quickly and creditors began to…
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