1. Discuss whether each of the following contracts will be unenforceable on the ground that genuineness of assent is lacking:

a. Susan finds a stone in his pasture that he believes to be quartz. Jackson, who also believes that the stone is quartz, contracts to purchase it for $10. Just before delivery, the stone is discovered to be a diamond worth $1000.

b. Pauls barn is burned to the ground. Without a factual basis, he accuses Freds son of arson and threatens to bring a criminal action unless Fred agrees to pay him $5000. Fred agrees to pay.

2. Larry offers to sell Steven his car and told Steven that the car had been driven only 25,000 miles and had never been in an accident. Steven hired Cameron, a mechanic, to appraise the condition of the car, and Cameron said that the car probably had at least 50,000 miles on it and had probably been in an accident. In spite of this information, Steve still thought the car would be a good buy for the price, so he purchased it. Later, when the car developed numerous mechanical problems, Steve sought to rescind the contract on the basis of Larrys fraudulent misrepresentation of the autos condition. Will Steve be able to rescind his contract? Explain.

3. Burkoff owned a building that, as Burkoff knew, had experienced flooding problems for years. Burkoff painted the building, replaced damaged carpeting, and sold the property to A&P, Inc. A&P did not ask whether there were flooding problems, and Burkoff said nothing about them. A&P leased the property to Dogs R Us, Inc., to operate a pet supply store. Two months after the store opened, the building flooded due to heavy rain. A & P and Dogs R Us filed a suit in a Michigan state court against Burkoff and others, claiming in part that Burkoff had committed misrepresentation by silence. Based on this claim, will the court hold Burkoff liable? Why or why not?