Bus 18 Ch13.pdf - Chapter 13 1 Peggy offers to sell Shelby...

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Business Law and the Regulation of Business
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Chapter 7 / Exercise 4
Business Law and the Regulation of Business
Mann/Roberts
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Chapter 13 1) Peggy offers to sell Shelby a purebred Scottish terrier puppy for $800. Shelby and Peggy do not discuss the dog's ancestry, but Shelby believes that the dog came from champion lines and agrees to the price. Shelby later discovers that the puppy is worth only $200. Can Shelby rescind the contract based on her mistake? a. Yes, because the dog was clearly not worth $800. b. Yes, because Shelby had a duty to investigate. c. Probably not, because Shelby made a mistake about the dog's value, not a mistake about a material fact. d. Probably so, because Shelby made a mistake about an immaterial fact
2) Blake is seeking to buy a mare that he can breed. Levi tells Blake about a horse that Levi wants to sell, stating that he (Levi) believes that the horse is extremely healthy and will be able to foal within eighteen months. After two years, the horse still has not foaled. The veterinarian informs Blake that the horse is physically incapable of breeding. In Blake's lawsuit to rescind the contract, it is:
3) Mark agrees to buy Dale's one-half-ton truck so that he can pull his trailer. Both Mark and Dale believe that the truck is large enough to do the job. After they complete the deal, Mark hitches the truck to the trailer and attempts to pull the trailer, but without success. The contract between Mark and Dale can be rescinded because of:
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Business Law and the Regulation of Business
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Chapter 7 / Exercise 4
Business Law and the Regulation of Business
Mann/Roberts
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