Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

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

Strengthening The Rule Of Law In Europe From A Common Concept To Mechanisms Of Implementation

Authors: Werner Schroeder

1st Edition

1509928871, 978-1509928873

More Books

Students also viewed these Law questions

Question

4. What is the goal of the others in the network?

Answered: 1 week ago

Question

2. What we can learn from the past

Answered: 1 week ago