Question
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.
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