On February 10, Mrs. Sunderhaus purchased a diamond ring from Perel & Lowenstein for $6,990. She was
Question:
On February 10, Mrs. Sunderhaus purchased a diamond ring from Perel & Lowenstein for $6,990. She was told by the company’s salesman that the ring was worth its purchase price, and she also received at that time a written guarantee from the company attesting to the diamond’s value, style, and trade-in value.
When Mrs. Sunderhaus went to trade the ring for another, however, two jewelers gave the ring valuations of $3,000 and
$3,500, respectively. Mrs. Sunderhaus knew little about the value of diamonds and claims to have relied on the oral representation of the Perel & Lowenstein’s salesman and the written representation as to the ring’s value. Mrs. Sunderhaus seeks rescission of the contract or damages in the amount of the sales price over the ring’s value. Will she prevail? Explain.
Step by Step Answer:
Essentials Of Business Law And The Legal Environment
ISBN: 9781337555180
13th Edition
Authors: Richard A Mann, Barry S Roberts