Business Law Essay

2024 Words Nov 20th, 2011 9 Pages
Chapter End Questions
Chapter 12-12.1, 12.3 Chapter 13-13.4, 13.5, 13.7 Chapter 14-14.3, 14.5 Chapter 15-15.2, 15.3, 15.4
12.1 Jerome is an elderly man who lives with his nephew, Philip. Jerome is totally dependent on Philip’s support. Philip tells Jerome that unless Jerome transfers a tract of land he owns to Philip for a price 30 percent below market value, Philip will no longer support and take care of him. Jerome enters into the contract. Discuss fully whether Jerome can set aside this contract.
Yes, I believe Jerome can set aside the contract because it was formed under undue influence and duress. Since Jerome is totally dependent on Philip for his support and the contract benefits the guardian by being able to purchase the land
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Owing to a drought during the growing season, Millie’s yield was much less than anticipated, and she could deliver only 250 bushels to Frank. Frank accepted the lesser amount but sued Millie for breach of contract. Can Millie defend successfully on the basis of objective impossibility of performance? Explain.
Yes, think Millie can defend successfully on the basis of objective impossibility of performance because performance could not be carried out due to unforeseen circumstances. However I believe it would be better to defend under the temporary impossibility because at a later date (next growing season) performance could be completed.
14.5 Substantial Performance. Adolf and Ida Krueger contracted with Pisani Construction, Inc., to erect a metal building as an addition to an existing structure. The two structures were to share a common wall, and the frames and panel heights of the new building were to match those of the existing structure. Shortly before completion of the project, however, it was apparent that the roofline of the new building was approximately three inches higher than that of the existing structure. Pisani modified the ridge caps of the buildings to blend the rooflines. The discrepancy had other consequences, however, including misalignment of the gutters and windows of the two buildings, which resulted in an icing problem in the winter. The Kruegers occupied the new structure but

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