Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please solve those questions by writing True or False. Thank you so much! 1. 2. 3. Fred had agreed to repay Melba a debt he

please solve those questions by writing True or False. Thank you so much!

image text in transcribed

1. 2. 3. Fred had agreed to repay Melba a debt he owed to her by sending her cash in the mail, but became concerned about sending cash. Fred instead send a cashier's check which is similar to cash. By doing this he would have substantially performed his obligation to Melba, even though this might be a partial breach. This would NOT be an example of the perfect tender rule. If Fred owed a debt to Melba and Melba had told Fred to give the gift to Penelope in full payment of a debt that Melba owed Penelope, Melba would be assigning her right of payment to Penelope. Fred, a contractor, agreed with Jake to build a house for Jake on Jake's property high on a hill. The cost was set and a bilateral contract was written and signed. Jake began work on the house within a few days. A week after beginning the work there was an earthquake which destabilized the land and made construction more difficult, but not impossible. Fred came to Jake to modify the agreement to include 20% above the set price for the home, due to the increased difficulty of building. Fred tells Jake, that if Jake does not agree, Fred will cease working. Fred is likely in breach. Fred was leasing an apartment but was going to be gone for six months and wanted to rent the place out during his absence. He had a two-year contract. Fred should effect an assignment rather than a sublease.. Stan, a gardener, mowed Melbas typical lawn on a monthly basis. Stan's business was growing and he could not get to Melba's himself, and so asked Green, another gardener, if he would do the job this month. Green agreed. This duty can be delegated. Bank of the Quest, with whom Melba has a loan decides to assign its rights to Melba's loan to QuietQuake, a California bank. Melba has to give permission to the Bank of the Quest as to the assignment in order for the assignment to be valid. 4. . 5. 6. 1. 2. 3. Fred had agreed to repay Melba a debt he owed to her by sending her cash in the mail, but became concerned about sending cash. Fred instead send a cashier's check which is similar to cash. By doing this he would have substantially performed his obligation to Melba, even though this might be a partial breach. This would NOT be an example of the perfect tender rule. If Fred owed a debt to Melba and Melba had told Fred to give the gift to Penelope in full payment of a debt that Melba owed Penelope, Melba would be assigning her right of payment to Penelope. Fred, a contractor, agreed with Jake to build a house for Jake on Jake's property high on a hill. The cost was set and a bilateral contract was written and signed. Jake began work on the house within a few days. A week after beginning the work there was an earthquake which destabilized the land and made construction more difficult, but not impossible. Fred came to Jake to modify the agreement to include 20% above the set price for the home, due to the increased difficulty of building. Fred tells Jake, that if Jake does not agree, Fred will cease working. Fred is likely in breach. Fred was leasing an apartment but was going to be gone for six months and wanted to rent the place out during his absence. He had a two-year contract. Fred should effect an assignment rather than a sublease.. Stan, a gardener, mowed Melbas typical lawn on a monthly basis. Stan's business was growing and he could not get to Melba's himself, and so asked Green, another gardener, if he would do the job this month. Green agreed. This duty can be delegated. Bank of the Quest, with whom Melba has a loan decides to assign its rights to Melba's loan to QuietQuake, a California bank. Melba has to give permission to the Bank of the Quest as to the assignment in order for the assignment to be valid. 4. . 5. 6

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

The Financial Crisis Implications For Research And Teaching

Authors: Ted Azarmi, Wolfgang Amann

1st Edition

3319205870, 978-3319205878

More Books

Students also viewed these Finance questions