Homework Assignment #2
1. Case 8.1 “Unilateral Contract” The "Pioneer Trail Ultramarathon" had an advertised prize of $10,000 but Rocky reserved the right to change the terms of the race at any time. Although his actions are shady and deceptive in my opinion, there was not a breech of contract. His decision to change the prize from $10,000 to $1,000 was within the rules stated in his legally enforceable unilateral contract.
2. Case 8.2 “Intention”
Sullivan merely stated he would not take less than $60,000 for the 40 acres of land. He never made a definitive commitment to a certain price, just a starting point from which to bargain. The is no contract between the two parties and Ball cannot hold Sullivan legally accountable to sell the land for $60,000.
3. Case 9.1 “Contract by Minor” …show more content…
This includes minors as relevant to this case. Kalen was a minor when he signed the lease and will not be held accountable the same way an adult resident would be. Kalen can disaffirm the contract and remain liable for the reasonable value of goods used, but the landlord cannot hold him accountable for any remaining payments because of his minor status. Minors are not held to the legal, political, and civil standards of an adult citizen due to their lack of maturity.
4. Case 9.2 “Duress”
Philip is taking advantage of his uncle and this can be considered extortion. A contract can become null and void if it can be proven that it was signed under duress, a lack of due consideration, a lack of mental capacity, or unjust enrichment. Jerome is protected by law and should be able to set aside this agreement.
5. 10.1 “Mitigation of
1. Case 8.1 “Unilateral Contract” The "Pioneer Trail Ultramarathon" had an advertised prize of $10,000 but Rocky reserved the right to change the terms of the race at any time. Although his actions are shady and deceptive in my opinion, there was not a breech of contract. His decision to change the prize from $10,000 to $1,000 was within the rules stated in his legally enforceable unilateral contract.
2. Case 8.2 “Intention”
Sullivan merely stated he would not take less than $60,000 for the 40 acres of land. He never made a definitive commitment to a certain price, just a starting point from which to bargain. The is no contract between the two parties and Ball cannot hold Sullivan legally accountable to sell the land for $60,000.
3. Case 9.1 “Contract by Minor” …show more content…
This includes minors as relevant to this case. Kalen was a minor when he signed the lease and will not be held accountable the same way an adult resident would be. Kalen can disaffirm the contract and remain liable for the reasonable value of goods used, but the landlord cannot hold him accountable for any remaining payments because of his minor status. Minors are not held to the legal, political, and civil standards of an adult citizen due to their lack of maturity.
4. Case 9.2 “Duress”
Philip is taking advantage of his uncle and this can be considered extortion. A contract can become null and void if it can be proven that it was signed under duress, a lack of due consideration, a lack of mental capacity, or unjust enrichment. Jerome is protected by law and should be able to set aside this agreement.
5. 10.1 “Mitigation of