Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Anthony has just started cycling as a hobby. He is interested to purchase a used bicycle to ride to work. One day he has coffee

Anthony has just started cycling as a hobby. He is interested to purchase a used bicycle to ride to work. One day he has coffee with a work colleague Betty who is not interested in cycling and as such has no in-depth knowledge of bicycles. Betty offers to sell Anthony her late-father's bicycle that is currently stored and collecting dust in her garage. She inherited it from her father who was a keen cycling enthusiast.Betty offers to sell it to Anthony for $100 as she is interested to clear up her garage space. Anthony accepts her offer and pays her $100 in cash. He informs her that he can only collect the bicycle in three days as he is rather busy at the moment to which she agrees.

On the next day, Betty informs her mother Chloe that she has sold her father's bicycle. Chloe is upset with Betty for selling her late husband's favourite bike and tells Betty she should not have sold the bicycle as it is of sentimental value to her.

On the scheduled day, Anthony arrives at Betty's home to collect the bicycle. Betty pleads with him not to take the bicycle and attempts to refund the $100 to Anthony. Anthony says a deal is a deal and he intends to stick to his part of the bargain.

Anthony however is keen to make a quick profit so he offers to sell it back to Betty for $5,000 but she has only five minutes to decide as he is in a bit of a hurry. He says that if she refuses his offer, he will most likely use the bicycle for spare parts as it is too old to be ridden to work anyway.

Reluctantly, Betty remits $5,000 to Anthony's bank account by electronic transfer. Betty subsequently informs her mother Chloe of the latest developments. Chloe says that although the bicycle means a lot to her, Betty should not have purchased back the bicycle from Anthony at that ludicrous amount.

Betty is now aware of the mistake and seeks to rescind the agreement with Anthony.

REQUIRED

Advise Betty regarding whether she will be successful in alleging duress so that she can rightfully seek a return of the $5,000 from Anthony.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Law Of Contract

Authors: Paul Richards

14th Edition

1292251484, 978-1292251486

More Books

Students also viewed these Law questions

Question

what is the most common cause of preterm birth in twin pregnancies?

Answered: 1 week ago

Question

Which diagnostic test is most commonly used to confirm PROM?

Answered: 1 week ago

Question

What is the hallmark clinical feature of a molar pregnancy?

Answered: 1 week ago

Question

13. Give four examples of psychological Maginot lines.

Answered: 1 week ago