Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Bell and Burke are discussing a possible purchase of Bell's summer home, located in Lavellette, NJ , ?at a local restaurant in South Orange. Burke

Bell and Burke are discussing a possible purchase of Bell's summer home, located in Lavellette, NJ , ?at a local restaurant in South Orange.
Burke is a rather loud and boisterous person, who often brags that he has "more than enough money to purchase a summer house." Bell does not believe Burke has the necessary funds to purchase the property and is annoyed by Burke's constant bragging. Nevertheless, she agrees to the sale in an attempt to prove Burke's lack of integrity and seriousness.
Bell writes out the following on the reverse side of a restaurant place mat:
"I hereby agree to sell the 'Old Lavalette - Lacy Mansion' to Burke for $ 2 , 0 0 0 , 0 0 0 , ?as long as he returns within three days with all cash."
Bell signs the statement. Burke then takes it from her and leaves the restaurant.
The next day, to Bell's great surprise, Burke shows up at her house with a suitcase full of $ 1 0 0 ?bills - - ?amounting to $ 2 ?million dollars. Bell now panics and tells Burke to "Get lost... I was not serious about this. I never thought you could ever come up with cash like that." [ Bell didn't know Burke has miraculously hit the NJ lottery the night before. ] ?"Besides, we were both quite drunk and I really was only kidding. I never intended to sell my home to you or anyone else."
Burke is determined to force Bell to "turn over" the property.
In determining whether a party has the required "capacity" or understanding to enter into a contract:
Group of answer choices
A ) ?As part of a deposition, a court must require a party to undertake a medical examination in which their capacity would be determined.
B ) ?A court must determine if a party "understood the nature of the transaction."
C ) ?A court should require a statement from the parties relating to their parties.
D ) ?A court should not ask as to the issue of capacity if a party signed a contract.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Elements Of Chemical Reaction Engineering

Authors: H. Fogler

6th Edition

013548622X, 978-0135486221

Students also viewed these General Management questions

Question

Explain the link between positive thinking and good health.

Answered: 1 week ago