Question
Stephen Cornely, after graduation and a successful career as a weight guesser at carnivals, invested extensively in real estate.He now wishes to sell some of
Stephen Cornely, after graduation and a successful career as a "weight guesser" at carnivals, invested extensively in real estate.He now wishes to sell some of it to purchase a large sailboat and cruise the world with some pretty women.
Kathryn Boyce, a former jock turned high fashion model, who was Cornely's classmate at Drexel, is now looking for an investment, modeling having been good to her.One of her hobbies is mineral geology, so she wants some mineral producing land.
At a Drexel Alumni fund raising party for real rich alumni, they bump into each other again, for the first time in many, many years.Cornely tells Boyce of his desires (cruise, remember?).Boyce declines his sailing offer but expresses great interest in his land.Cornely tells her of a certain parcel he wants to sell and they arrange to go see it.
When they get there, Cornely, remembering Boyce's interest in minerals, tells her the land has a large coal deposit beneath it.He knows that there is no coal under the land.Boyce has carefully examined certain surface features of the land and decides there is gold under it, lots of gold, so she pays little attention to Cornely's ramblings about the coal.Boyce buys the land at the price Cornely is asking.
(a) After taking possession of the land Boyce begins to search for the gold to mine.There is none.Nor is there coal.She sues Cornelyfor fraud.Who will win and why?EXPLAIN FULLY!!!!
(b)Assumeinstead of (a), Boyce does indeed find a rich gold vein and starts to mine it.Cornely learns of this andHE SUES HERto avoid the contract.He bases his lawsuiton two grounds.On what grounds will he seek avoidance and will any of them win?Why or why not?EXPLAIN FULLY!!!!BE COMPLETE!!!!DISCUSS FULLY! TWO GROUNDS!! DO NOT MIX UP THEORIES AND ELEMENTS OF THEORIES!
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started