Question
3. On January 1, Charlie, a collector of rare Greek vases, entered into a written and signed contract to purchase a vase from the Ancient
3. On January 1, Charlie, a collector of rare Greek vases, entered into a written and signed contract to purchase a vase from the Ancient Antiquities Company (Ancient) for $5,000, based on the representation by Ancient that the vase had been found on the Greek island of Mykonos and was 1,500 to 2,000 years old. The vase was delivered to Charlie on January 15 and payment was due to Ancient on February 15.Charlie paid $5,000 on February 15 and also built a special cabinet to display the vase and also increased his insurance coverage for his vase collection by paying an additional $500. On March 3, Charlie went to an antiquities expert and idiscovered that it was not an ancient vase and that Ancient had manufactured the vase itself at a cost of $400. Charlie thought about this situation for 14 days and then soughtto return the vase to Ancient and demanded his money back.
(A)What claim, if any, does Charlie have any against Ancient?If there is a claim, what are the elements of that claim, and what equitable and/or legal remedies can Charlie seek?
(B)Assume Charlie decides to keep the vase does he have any claims against Ancient?
(C)What potential defense does Ancient have against Charlie's claims under A or B above, if any?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started