BUS311_chapter_05

Orwherethestakeswerehighsuchasthe sale of land the

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Unformatted text preview: easy to recognize, since it almost always is going to involve one of two fact patterns: (1) the parties have a fiduciary relationship, or (2) one party is highly dependent on another due to illness, age, infirmity, etc. In these situations the dominant person is seeking to take advantage of the weaker person. For example, suppose Mabel is an elderly woman who is a shut-in, unable to leave her condo. Her neighbor David gets her groceries, picks up her prescription medications, and does her yard work. Now David suggests that Mabel sell him the condo for 40 percent under market value. He does not have to threaten her; Mabel knows she will be in a desperate situation if he stops helping her. David has a perfect right to stop helping, but he cannot use Mabel’s dependence on him to get a benefit for himself in this fashion. 5.4 Unenforceable Contracts and the Statute of Frauds M ost oral contracts are valid and enforceable. If Juan offers in a phone conversation to sell Kaylie his scooter for $400 and Kaylie accepts, the contract is bind...
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This test prep was uploaded on 04/09/2014 for the course BUS 311 taught by Professor Parker during the Spring '10 term at Ashford University.

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