Question
Can you please guide: whichoftheseagreementsarevoidandwhicharevoidableandexplainwhichoftheessentialelementsofavalidand enforceablecontractismissingineachagreement? 1.ArnoldinvitedJanetothecollegeNewYeardinneranddance.JaneacceptedhisinvitationandagreedtoaccompanyArnoldwhopurchasedtheticketsandarrangedalimo. 2.JoneswasawarethatSmith,afellowemployee,washavinganaffair.JonesinformedSmiththathewouldadviseSmith'swifeoftheaffairunlessSmithenteredintoanagreementtotransferownershipofacottagelotheownedtohim.Smithagreed. 3.Margaret,anelderlywoman,hadbrokenherhipinafall.Duringherrecuperation,Paul,herneighbour,hadcuthergrassandlookedafterhergarden.Onherrecovery,MargaretwrotePaulaletterthankinghimforallhiskindnessandpromisinghimacedarcanoethatwasstoredinherbasement.PaulwasdelightedandtoldMargarethewouldtakeitassoonasheclearedaspotforitinhisgarage. 4.Mike,whoisintheelectronicsbusiness,soldacarstereosystemoncredittoJohn,aseventeen-year-old.Theequipmentcost$1,500andJohnmadeaninitialpaymentof$500andagreedtopaythebalancein10monthlyinstallmentsof$100each. 5.ClarenceofferedtosellhisrestaurantbusinesstoDenise.Priortoaccepting,Deniserequestedthefinancialstatementsforthebusiness.Clarencedeliveredthembutinordertomakethebusinesslookmoreprofitableheinflatedtherevenuefiguresontheincomestatement.Afterreviewingthestatements,Deniseagreedtopurchasethebusiness.Shehasnowdiscoveredthatthebusinessisnotveryprofitable. 6.Larry,averyreligiousperson,whorecentlyinheritedalargesumofmoney,soughtadvicefromhisspiritualleader,awellknowntelevisionevangelist.Duringtheirconversation,theevangelistsuggestedLarrydonatealargesumofmoneyforanewtelevisionstudiothatthechurchwouldnameafterLarry.Larry,althoughinitiallyreluctant,waseventuallyconvincedbytheevangelistthatitwasbettertobuilduptreasureinheaventhanonearthandagreedtomakealargecontribution.Larryisnowhavingsecondthoughts. 7.Today,JohnenteredintoanagreementtosellhiscottagetoPaulfor$100,000.UnknowntobothJohnandPaul,thecottagewastotallydestroyedlastweekendwhenalargepinetreefellonitduringaseverewindstorm.
Can you please guide: whichoftheseagreementsarevoidandwhicharevoidableandexplainwhichoftheessentialelementsofavalidand enforceablecontractismissingineachagreement?
1.ArnoldinvitedJanetothecollegeNewYeardinneranddance.JaneacceptedhisinvitationandagreedtoaccompanyArnoldwhopurchasedtheticketsandarrangedalimo.
2.JoneswasawarethatSmith,afellowemployee,washavinganaffair.JonesinformedSmiththathewouldadviseSmith'swifeoftheaffairunlessSmithenteredintoanagreementtotransferownershipofacottagelotheownedtohim.Smithagreed.
3.Margaret,anelderlywoman,hadbrokenherhipinafall.Duringherrecuperation,Paul,herneighbour,hadcuthergrassandlookedafterhergarden.Onherrecovery,MargaretwrotePaulaletterthankinghimforallhiskindnessandpromisinghimacedarcanoethatwasstoredinherbasement.PaulwasdelightedandtoldMargarethewouldtakeitassoonasheclearedaspotforitinhisgarage.
4.Mike,whoisintheelectronicsbusiness,soldacarstereosystemoncredittoJohn,aseventeen-year-old.Theequipmentcost$1,500andJohnmadeaninitialpaymentof$500andagreedtopaythebalancein10monthlyinstallmentsof$100each.
5.ClarenceofferedtosellhisrestaurantbusinesstoDenise.Priortoaccepting,Deniserequestedthefinancialstatementsforthebusiness.Clarencedeliveredthembutinordertomakethebusinesslookmoreprofitableheinflatedtherevenuefiguresontheincomestatement.Afterreviewingthestatements,Deniseagreedtopurchasethebusiness.Shehasnowdiscoveredthatthebusinessisnotveryprofitable.
6.Larry,averyreligiousperson,whorecentlyinheritedalargesumofmoney,soughtadvicefromhisspiritualleader,awellknowntelevisionevangelist.Duringtheirconversation,theevangelistsuggestedLarrydonatealargesumofmoneyforanewtelevisionstudiothatthechurchwouldnameafterLarry.Larry,althoughinitiallyreluctant,waseventuallyconvincedbytheevangelistthatitwasbettertobuilduptreasureinheaventhanonearthandagreedtomakealargecontribution.Larryisnowhavingsecondthoughts.
7.Today,JohnenteredintoanagreementtosellhiscottagetoPaulfor$100,000.UnknowntobothJohnandPaul,thecottagewastotallydestroyedlastweekendwhenalargepinetreefellonitduringaseverewindstorm.
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Business Law Text and Cases
Authors: Kenneth W. Clarkson, Roger LeRoy Miller, Gaylord A. Jentz, F
11th Edition
