Assignment 4 BSAD 4210.docx - Bo Han Li BSAD 4210 Professor...

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Bo Han LiBSAD 4210Professor JunkAssignment 4I have read the entire cases BLPart 1Case Citation:Uzan v. 845 UN Limited Partnership, 10 A.D.3d 230 778 N.Y.S.2d 171, 2004Facts: In this case, 845 UN was selling the apartments in Trump World Tower, and Uzan signedthe contract for buying two penthouse units with 845 UN. In the contract, Uzan needs to pay10% of the purchase price as the down payment and after that an additional 15% needs to be paidwithin 180 days, or within 15 days once they received a written notice. However, Uzan didn’tshow up for the closing because they are afraid that the 9/11 attacks would happen again to theirapartments.Issues: Should Uzan hold the status for the initial payment and lose the payment because ofdefaulting, or Uzan should be able to get their down payment back because of terror threats?Holding: Uzan won’t be able to have the return of their down payment, the reason for that isbecause all the down payments in the world were negotiated by the parties and held in thecontract.Rule: According to the lease, the contract was signed by both parties and the plaintiff needs tohold up until the end of the deal. The written confirmation in this case would also be the proof pfstatue or frauds if one of the parties doesn’t follow the rules in the contract.Application: Under the lease contract, both parties must agree to the terms in the contract beforesigning for the agreement. In this case, the agreement was that Uzan needs to pay 25% down

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Term
Spring
Professor
BlainH.Johnson
Tags
GTE Corporation

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