Use the IRAC method

1. In your residence hall, you put up a flyer advertising that you are selling your car for $6000. Two days later, you receive the following email from Corrin: Hi. I saw that you are selling your car. Would you take $5500 for it? Comn. You respond Deal. It will be available in two days. Come to my room to pay and pick up the keys. [Your name] Corrin responds, "Okay The next day, you get another call from someone who offers you $6000 to buy your car. You agree to sell the car to that person. That person immediately comes to your room and gives you a $6000 check You turn over the keys and the title to that person. Corrin then arrives the next day with $5500 cash. You tell Corrin, "I'm sorry, but I've already sold the car." When Corrin replies that you already had a deal with Corrin to sell the car, you reply, "Well, you should have gotten something in writing. We had no contract." Does this contract fall within the Statute of Frauds? Are you correct in saying that you and Corrin have no contract? 2. You lease commercial property to QuikStop for the purpose of operating a gas station and convenience store. Your ten-year lease provides for base rent of $7,000 per month In addition, QuikStop is to have general liability insurance of at least $1 million, a liquor-liability policy of at least $500,000, and environmental-impact- liability insurance of at least $1 million. The lease also gives QuikStop an option to purchase the property Five years into the lease, QuikStop notifies you that it wants to exercise its option to buy the property. During negotiations, you discover that QuikStop had insufficient general-liability coverage, insufficient liquor-liability coverage, and no environmental-impact-liability coverage. (QuikStop had otherwise complied with the terms of the lease, including timely payment of all rent, ) You want to cancel the lease and the option to buy for QuikStop's failure to comply with the insurance requirements of the lease QuikStop wants to enforce the lease and the option to buy, arguing that its failure to have insurance was a minor violation of the lease. How would a court resolve this dispute? Grading information