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Midterm

MIDTERM Review 3

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Department
Administrative Studies
Course
ADMS 2610
Professor
Robert Levine
Semester
Fall

Description
QUESTION 1 CONTRACTS a A has just offered to buy Bs boat for 20000 B accepts offer and tells him that the boat is in great conditionsomething that B knows is not true When the contract is prepared it only refers to the boat and not Bs statementWhen A gets the boat he finds it needs repairs A wants to return the boat and get his money back advise A Fraudulent Misrepresentation false statement by B that knew the boat was not in great condition remedy recessiontort damages contract is voidable Parole EvidenceCondition Precedent condition has to be satisfied before comes into contract Collateral Agreement inducement by B to get A into contract by telling boat in great shape stb June 1 A and B agree that A in Montreal will ship shark fins to B in England by August 1st The goods are thshipped from Toronto on July 26 and while they are in transit there is an unexpected road blockade which stforces As ship to stay in Spain preventing delivery to England on Aug 1 A now wants to know whether hisobligations are at an endAdvise A with your reasonsFrustration performance is possible and contract is at en end c Same facts as in b but As ship has found a way around the blockade by taking a different route to get thegoods to B in England at a cost equal to 25 of the contract priceAdvise A with your reasonsNot frustration performance is possible at an extra cost hardship as A must completepay extra std Jan 1 John enters into a contract with George whereby George will renovate Johns apartment building forth100000 with the work to be completed by May 15Renovations will take 29 days once construction startsBythApril 18 George has not begun the renovationsAdvise John of his rights with reasonsBreach of contract implied repudiation anticipat
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