midtermbusinesslaw - contract $9,700.00 5Price 6Righttocure...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
1 A contract to be performed in lees that 1 year 2 A situation where a party has improperly given the other party no alternative but to enter into a  contract 3 changed economic circumstance 4 The only open offer is for $9,700.00 5 Price 6 Right to cure 7 Treat the repudiation as a breach at the time 8 The instrument must contain an indorsement 9 Transfer the instrument to others, thus using it as a substitute for money 10 A,B, C Take the instrument in good faith Take the instrument for value Take the instrument without notice that it is overdue or defective 11 The debtor must have an interest in the collateral 12 Become perfected Bob purchased the system under false claims. Bob reverse the acceptance when he realized he  had a nonconforming good in his hands. The goods were accepted, before the nonconformity  was discovered and it was difficult to discover. Bob notifies the seller in reasonable time. Bob  should win this and get his money back.  Yes, Mike does have a case. I believe this was a bilateral contract. There was a promise made by  Mike to come back and purchase the item it was accepted by Bob, and there was also a promise  in this case in writing from Bob to wait until an agreed time to make the sale. 
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Fred is not responsible for this payment since he did not create this negotiable instrument in the  first place. Fred should charge Forger with fraud and Commercial should take the lost for not  following procedures. As stated in the paragraph Commercial usually does not take people from  the street. Now putting all that on the side. Commercial does have the right to collect from Fred.  The company does have the right to take the property back. It did not belong to Steve in the first  place to sell it. Steve should have paid the items n full when Bob gave him the money. The  rightful owner of the property is the furniture store. Bob is going to have to sue Steve for the  money he paid him.  Week 4 : Property: Real Property and Mortgages; Landlord and Tenant - Midterm Time Remaining:      Page:   1    2   Page 2   1. TCO A: Henry had worked for a local medium-size manufacturer for more than 30 years. A couple of weeks before he retired, the company director of human resources told Henry that the company would pay the health insurance for Henry and his wife for the remainder of his life, and for his wife's life if she were to survive him. He then received a letter from the company describing this benefit. Henry had always known that the company provided this benefit to a few of its select employees. He didn't really expect that he would receive it, although he had secretly hoped so for some time. Four years
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 10/28/2011 for the course B LAW b law taught by Professor Blaw during the Spring '11 term at Keller Graduate School of Management.

Page1 / 7

midtermbusinesslaw - contract $9,700.00 5Price 6Righttocure...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online