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Unformatted text preview: Question At the end of the summer, Jeremy Atwater earned enough money to put a down payment on a car. He decides to continue working part-time during school to earn money for the car payments. Jeremy purchased a car from Smooth Sales Used Cars. Smooth did not ask Jeremy how old he was; the salesman assumed he reached the age of majority. Jeremy paid the down payment and signed a contract stating that he would make payments of $200 each month. Six months later, Jeremy lost his job and could no longer make the payments. Jeremy took the car to Smooth and said he wanted to cancel the contract, and that he wanted his money back. What are the possible outcomes? Compare and contrast potential legal and equitable remedies. The issues in this case are whether a valid contract was formed, the effect of a contract rescission and the proper remedy for breach/anticipatory breach. The facts seemingly provide evidence an offer and acceptance (the written contract) and consideration (the down payment) in...
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This note was uploaded on 02/16/2012 for the course AMERICAN I American I taught by Professor Americaninternationcollege during the Spring '12 term at American Internation College.
- Spring '12