Smith and Roberson’s Business Law
17th Edition
ISBN: 9781337094757
Author: Richard A. Mann, Barry S. Roberts
Publisher: Cengage Learning
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Chapter 9, Problem 4Q
Summary Introduction
To discuss: Whether a contract been formed and the rights of person C and person M.
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In obligations to give, what are the different rights which are available to the creditor?
Over a cup of coffee in a restaurant, X Invites Y to dinner at his house on a Sunday. Y hires a taxi and reaches X’s house at the appointed time , but x fails to perform his promise. Can Y recover any damages from X? (a) Yes, as y has suffered (b) No, as the intention was not to create legal relation. (c) Either (a) or (b) (d) None of these.
State 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)
Chapter 9 Solutions
Smith and Roberson’s Business Law
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- Define the following under contract Act 1932, provide essentials with example a) Coercion, c) Undue Influence, b) Fraud, d) Misrepresentationarrow_forwardFor the scenario, determine if the party is liable and what is "at play" related to agreement between parties. Joy threatens Winston at knifepoint to sign a prenuptial agreement until he complies. a. Liable - Duress b. Not Liable c. Liable - Undue influence d. Liable - Fraud in the execution..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
- Oliver, while he was so drunk that he didn’t know what he was doing, bid successfully at an auction for the purchase of a house. It was clear to the auctioneer that Oliver didn’t know what he was doing. However, after Oliver sobered up, he confirmed the contract with the auctioneer. He then subsequently refused to complete the contract. Is Oliver bound to the contract? Required: Answer this question using the IRAC * method.arrow_forwardProfessor Shott buys a Porsche against the wishes of his much more intelligent wife. Professor Shott soon realizes his mistake when he starts to make the car payments. Jane, a very wealthy 17 year old, offers to buy the Porsche and Professor Shott accepts. Now assume that before she turns 18 Jane gets in an accident and badly damages the Porsche causing $20,000 in damage. Assume she originally paid Professor Shott $50,000 for the car. If Jane now seeks to return the damaged car what is the result? Professor Shott must refund Jane his money minus the amount of the damages. Professor Shott does not have to refund Jane anything. Professor Shott can demand it be repaired before giving Jane a refund. Professor Shott must refund Jane 100% of his money even though he damaged the car.arrow_forward3 - A breach of contract occurs when either party violates the agreed upon promise. TrueFalsearrow_forward
- Charles and Nicolette went to Italy in November 2008, where Charles proposed marriage and presented Nicolette with a diamond ring. She accepted the proposal and the ring. On the same day, Nicolette asked Charles where he had purchased the ring. She became disappointed when he told her where he bought it, and she gave him back the ring, suggesting a different style she would like. He returned the ring to the jeweler and received a refund of $5,000. He then purchased a new ring for $12,000. Charles testified that near the end of November he “reproposed” and presented the second ring to Nicolette. The relationship soon soured and in late February 2009 Charles asked for the return of the ring. Contrary to Charles’ testimony that he gave the second ring as an engagement ring in late November, Nicolette testified that he gave the second ring to her a few days before Christmas as a holiday gift. [Miller v. Chiaia, 2011 WL 1367050 (Conn. Superior)] 1. Provide a paragraph with more than five…arrow_forwardBrandt 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_forwardDiscuss the impact of statute on a person's failure to pay his instalments, or honour his instalments obligations when they were duearrow_forward
- under the NCC, what are the different acts or omissions of the obligor or debtor which will result in the breach of the obligation for which he can be held liable for damages?arrow_forwardSalim is the owner of many buildings and hotels. Since he is a minor, his mother was his legally appointed guardian. Salimconvinced Omar to give him loan of 20,000 OMR with 12% interest. The loan was taken by mortgaging one of his properties. Omar gave 10,000 OMR as advance and Salim promised that he will return the money after one year. Salim’s mother informed Omar that anybody who would get into an agreement with him would do so at his own risk. After knowing this, Omar wants to get the advance he has given. Questions a.Is Salim bound to give the money back to Omar? Why or why not? b.Is this a valid contract? Explain why or why not?arrow_forwardWong engages Chen as his agent to sell his house. Wong's brother tells Chen that Wong will sell the house for $500.000. A purchaser offers to buy the house for $510.000. Chen tells the purchaser, I can accept that offer on behalf of my client The purchaser obtains a bank loan to buy the house. When Wong finds out what Chen has done he is furious and refuses to accept the proposed sale agreement. Which of the following statements is true: (A) Wong is bound to sell the house to the purchaser for $510,000. (B) Wong is not bound by Chen's acceptance' because he did not authorize Chen to make any sale agreement on his behalf. (C) Wong's brother authorized Chen to accept the offer and therefore Wong is bound to sell the house to the purchaser for $510,000. (D) Chen is entitled to apply to the court for an order of specific performance compelling Wong to complete the contractarrow_forward
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