Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Bob, represented himself to be experienced in timber negotiations, contracted to buy the timber on Steve's land. The first $11,500 would go to Bob, the

  1. Bob, represented himself to be experienced in timber negotiations, contracted to buy the timber on Steve's land. The first $11,500 would go to Bob, the next $2,000 would go to Steve, and the rest would be divided fifty-fifty after costs of removal of the timber. Bob said the timer would be worth $18,000-$20,000. When Steve discovered the timber was in fact worth more than $50,000, he sued, claiming the contract was unconscionable. Will Steven win the suit? Explain.
  2. Carlson purchased a parcel of real estate that was landlocked. Carlson called his neighbor, Peterson, and asked if he could use an abandoned drive (driveway) on Peterson's property to travel to his (Carlson's) property from the highway. Peterson said, "Sure, anytime." Later the two become engaged in a dispute, and Peterson blocked the drive. May Carlson enforce Peterson's promise that he could use the drive "anytime"? Explain.

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

Introduction To Business Statistics

Authors: Ronald M. Weiers

7th Edition

978-0538452175, 538452196, 053845217X, 2900538452198, 978-1111524081

Students also viewed these Law questions