7AsmtWk10-12-09 - WEEK OF OCTOBER 12, 2009 - LW121...

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WEEK OF OCTOBER 12, 2009 -- LW121 ASSIGNMENT Monday: Mid-Term Exam Wednesday: Chapter 15 (Statute of Frauds); Sun Valley Case Friday: Chapter 15 (Statute of Frauds); Briggs Case; West Case TEXT SECTIONS: Chapter 15 (Statute of Frauds) The Following Sections Only: Pages 342-353 (through and including UCC §2-201(1)-The Basic Rule) Electronic Contracts and Signatures on Page 356 Assigned Cases Volunteers Due Date Written Assignments Hoffman v. Sun Valley Company All Students Read Case Summary Only Hoffman (Buyer) Sun Valley (Seller) Back Up (2) __________________ __________________ __________________ __________________ Wed.10/14 Presenters & Backup- o Read case summary only o Case Brief All Other students: o Read case summary o Briggs v. Sackett All Students Read Case Summary Only Sacketts Robert Briggs Back Up (2) ___________________ ___________________ ___________________ ___________________ Fri.10/16 Presenters & Backup- o Read case summary only o Case Brief All Other students: o Read case summary o First Bank v. West All Students Read Case Summary Only XXXXXXX Fri. 10/16 All Students: Read case summary below Answer questions below (no case brief) Hoffman v. Sun Valley Company Due Date: Wednesday 10/14 In 1976, Hoffman (Buyer) contacted Sun Valley Company about purchasing a 1.64 acre undeveloped lot known as the “Ruud Mountain Property” which was located in a resort area owned by the Company in Sun Valley, Idaho. Phil Conger, a representative of Sun Valley, was authorized to sell the property subject to the approval of the executive committee of the Company. On January 21, 1977, Conger reached an agreement with the Buyer on the telephone to sell the property for $90,000 (which price had previously been approved by the executive committee of the Company). The next day the Buyer sent Conger the following letter confirming the conversation: Dear Phil, This letter will confirm our phone conversation regarding the acreage referred to as the Ruud mountain property. The agreement is as follows: Purchase price of $90,000, payable at 30% down with the balance to be payable
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This note was uploaded on 07/11/2010 for the course ECON 100 taught by Professor Niger during the Spring '10 term at Aarhus Universitet, Aarhus.

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7AsmtWk10-12-09 - WEEK OF OCTOBER 12, 2009 - LW121...

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