Research and find an article or case on a contract topic or subject discussed in the text and then explain a short summary of what contract principles would be applicable to the situation and how the court may or may not decide the case depending on the facts raised by the parties. The time period for articles or cases is from the years 2000-2022. For example, Art pranskter Banksy submitted a spray painted canvas entitled "Girl With Balloon" for auction at Sotheby's of London fetching more than three times its pre-sale estimate and was sold for $1.4 million. As the auctioner yelled, "Going, going, gone" an alarm sounded and the painting ran through a shredder embedded in the frame, leaving half of the canvas hanging from the bottom in strips.

You would review the principles for auctions in the text and discuss how this matter would be resolved between Sotheby's and the bidder taking into account whether it was with or without reserve, merchantability of goods, alteration of the terms of the contract.

Answer rating: 100% (QA)

One relevant case within the specified timeframe is Lucy v Zehmer 1954 which has been widely discuss... View the full answer