Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Rick is very old and can no longer see well enough to read. His neighbor, Emmett approaches him with an offer to buy his car.

Rick is very old and can no longer see well enough to read. His neighbor, Emmett approaches him with an offer to buy his car. He says that he will pay twice the value of the vehicle and presents Rick with a contract to sign. Emmett says, I know that you cannot read the contract, but you can trust me that all of the terms we discussed are in the agreement. Rick agrees and signs the contract. However, the contract did not deal with the sale of the car. It was a contract to sell Ricks house at a very low price.

Question 12 options:

Non East Factum states that Rick will likely not be held to the contract.

Non Est Factum states that you must read the terms of the agreement and if you do not, you will always be bound to its terms.

This is Fraudulent Misrepresentation. It will not be binding

Undue Influence applies. It will not be binding.

This is an example of the need to read every contract. Rick signed the agreement and is bound to its terms.

Question 13 (1 point)

Rick is 28 years old and a new homeowner. He is looking to sell his car and tells his friends and neighbours that he is looking to sell the vehicle. His neighbor, Emmett approaches him with an offer to buy his car. He says that he will pay twice the value of the vehicle and presents Rick with a contract to sign. Emmett says, you can trust me that all of the terms we discussed are in the agreement. Rick agrees and signs the contract. However, the contract did not deal with the sale of the car. It was a contract to sell Ricks house at a very low price.

Question 13 options:

This is Fraudulent Misrepresentation. It will not be binding.

This is an example of the need to read every contract. Rick signed the agreement and is bound to its terms.

Undue Influence applies. It will not be binding.

. Hyper est Dictum states that you must read the terms of the agreement and if you do not, you will always be bound to its terms.

Non East Factum states that Rick will likely not be held to the contract.

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_2

Step: 3

blur-text-image_3

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

Entrepreneurial Financial Management An Applied Approach

Authors: Jeffrey R Cornwall, David O Vang, Jean M Hartman

5th Edition

0367335417, 978-0367335410

More Books

Students also viewed these Finance questions

Question

Describe the selection process.

Answered: 1 week ago

Question

Describe performance management.

Answered: 1 week ago

Question

Explain the importance of preliminary screening.

Answered: 1 week ago