Business_Law_chap_8_practice_Questions - house. Derek...

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Ben Quach Business Law chap 8 practice questions Guss, a professor at a small college, offered to sell his five year old civic to a student. The price Guss asked was well above market value. The student accepted Guss’s offer, without even test driving the car. a) Is the contract between Guss and the student voidable by either Guss or the student? No b) Is the contract between Guss and the student voidable only by Guss? No c) Is this a contract adhesion? No d) Is this an example of misrepresentation? No Derek, while trying to sell his house to luke, was asked if he had ever seen or suspected termites in the
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Unformatted text preview: house. Derek replied that he had not, and that the house was sound. Several months after Luke had purchased the house he learned from neighbors that Derek had paid for soil treatment to eliminate termites. a) Can the contract for sale be canceled because of fraud? Yes b) Was there a misstatement of a material fact? Yes c) Did stein suffer a loss as a result of Dereks actions? Yes d) Can Luke sue for damages? Yes...
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This note was uploaded on 09/14/2011 for the course BUSI 2301 taught by Professor Jefferyhirt during the Spring '11 term at Lone Star College System.

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