Please be thorough with your answers and no copy and paste sentences or paragraphs from other sources, please. Please simplify as much as you can (in other words it is understandable).

Questions:

1.On October 30, Farraday offered to purchase some farmland from Hume for $14,500 with possession in January. On November 15, Hume counter offered, by letter, at $15,000. The letter was delivered to Farraday's home on November 20 but Farraday was absent on a hunting trip. Farraday's wife opened the letter and wrote back to Hume, stating that her husband was away for 10 days, and asked that Hume hold the deal open until Farraday could consider the matter. Hume did not respond. On December 10, Farraday returned home and immediately wrote Hume of his intention to accept Hume's offer of $15,000. The letter was received on December 12. By this time, Hume had already sold the land to someone else. Has Farraday accepted the offer in time or has it lapsed? (4 marks)

3.Claire was standing at an intersection waiting to cross the road. She saw John's car run a red light and hit a car driven by Walt. As the three of them waited for the police to arrive, John approached Claire and introduced himself, leaving a $100 bill in the palm of her hand after they shook hands. John then said, "There's another nine of them to follow if you don't act as a witness in court about this accident." Claire agreed, stating, "It's a deal," and slipped away from the accident scene. She later learned that the matter had been settled, and no charges had been brought against John since there were no witnesses to the accident. Claire contacted John to get the rest of her money, but he refused to pay her the remaining $900. Claire wants to know if she can sue John for breach of contract - what would you tell her? (4 marks)

4.Miles advertised his house for sale and Charlie came to have a look at it. While there, they negotiated, and eventually struck a bargain that Charlie would purchase the house for $200,000. They shook hands on the deal and Charlie went home. That night, while thinking about it, Charlie realized that the house wasn't exactly what he wanted. The next day, he wrote a letter to Miles stating, "I'm writing this note to let you know that I've changed my mind with respect to the purchase of your home for $200,000, and since the contract isn't valid anyways, I don't expect to hear any more about this matter. Sincerely, Charlie." Miles sued Charlie for breach of contract. What are the legal positions of Miles and Charlie? Are there any defenses available to Charlie? (4 marks)

5.With respect to a contractual relationship, identify the types of remedies for misrepresentation available to the affected parties and how they are applied. (there are three factors of misrepresentaion which are fradulent,negliegent and innconet,please example 1 or 2 sentence briefly of its defintion for each word and then please provide for each word example (i.e example of fradulent, lastly what are the remedies for misrepresentation and how they are applied)

6.Identify and briefly describe the grounds on which the courts will imply terms. (use the imply terms: Business efficacy,customs in the trade of transactionm previous dealing the parties and statuory requirements. Please example how the court will impy the term of each of these words and write in 1 or 2 sentences for example business efficacy- business efficacy where there will essential term used in the contract that are all from the court's suggestion to have the court work)

7.How does the law of assignment of rights ensure that the debtor is not disadvantaged by the assignment? (2 marks)

8.Describe the circumstances under which a contract is considered performed and the resulting effects performance has on the commercial relationship. (Define performance in a simplistic way not from any other sources and please provide the consquences of perfomance and benefits of it and and example of perfomance.)

9.Distinguish between a breach of condition and a breach of warranty.( 4 marks)