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To Valley College Students Only Part Two

 
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PostPosted: Tue Dec 05, 2017 5:56 pm    Post subject: To Valley College Students Only Part Two Reply with quote

This is due back next class session, 12/12/17:

NOTICE:

THIS IS AN INDIVIDUAL EXAM. IF I FIND, IN MY EXPERIENCED JUDGMENT, THAT TWO PAPERS ARE NOT DONE BY THE AUTORS WORK, BUT A COLLABORATION, I WILL DIVIDE THE GRADES EARNED BETWEEN THE STUDENTS WHO HAVE SHARED ANSWERS.

To: Business Law Students From: S.Waterstone Re: Final Exam Part One

This part is worth 25% of your final test grade. This is due on December 12, 2017. The second part of your exam, worth 75% will be done in class on December 12, 2017. Obviously, I only accept typed answers. You can either use IRAC or just provide your answers.

There also is a bonus essay question following the five hypothetical questions. Each question is worth 5 points.
_____________________________________________________________

1. Joe wants to buy Blackacre, a house, in Northern California. On February 3, 2009, Joe hires a real estate agent, Slimy Salesperson, to negotiate the deal. Slimy is considered an expert in the field of real estate. Evidence will show Joe knows nothing about real estate, and justifiably relies heavily on the advice of Slimy. On February 4, 2009, Slimy telephones Joe to inform him that the owner of Blackacre is willing to sell to Joe. Slimy tells Joe that he should quickly telephone Owner, and conclude the deal before Owner changes his mind. Following Slimy's directions exactly, on 2/4/09, Joe telephones Owner and during the telephone call the sale of Blackacre is concluded. Oil is discovered on Blackacre and Owner/Seller wants to back out of the deal. Was a valid contract formed for the sale of Blackacre?

2. Johnny Van Gogh, a non-merchant, owns a famous painting. In writing he offers to sell it to Billy Huntington, a non-merchant, for Billy's library for one million dollars. Billy tells Johnny, "I absolutely accept your offer.” Johnny changes his mind about selling the painting. Billy sues for specific performance of the contract. Would specific performance be the correct remedy for Billy to seek? Make sure you explain why you choose your answer.

3. Donald Dummy purchases a brand new Lexus vehicle. He spent $65,000.00 for the vehicle. He drives carpool with five passengers. The Lexus has some kind of electric problem, and every day it stalls several times on the way to work. Donald, on the seventh day of this problem, says, "I'd sell this vehicle for $5,000.00 just to be rid of it." Sally Smart, one of Donald's passengers, knows a good deal when she hears it. She says, "I accept the Lexus for my $5,000.00." Is this a valid offer, and will the Court enforce it?

4. Arthur Moury, a world-renowned dance instructor, contracted with Lawrence Lightfoot to teach him several new dance steps. Immediately after the contract was entered into, Arthur slipped and broke his foot. Not wanting to lose this lucrative contract, he told his new employee, Fred Misstep to substitute in for him. Lawrence refuses to take lessons from Fred. Arthur Moury sues Lawrence. What legal principle will Lawrence assert to defend his position? What result?

5. Tillie Timely makes the following offer to Willard Watchmaker: Build me the perfect timepiece. I want the watch to be a watch that will be envied by the world, and that will be like no other. She tells him she will pay him when she receives the watch. She gives him a list of specifications that is very, very long. Willard starts to work. He finishes the watch in seven months of continuous work. It is a true masterpiece. After the watch is finished, but before delivery and payment, Tillie enters his shop and says, "I revoke my offer." Does Willard have any remedy available to him?

___________________________________________________________

BONUS QUESTION DO NOT ANSWER THIS QUESTION UNTIL YOU HAVE SUPPLIED AN ANSWER TO THE FIVE HYPOTHETICAL QUESTIONS ABOVE. It is worth 21 bonus points total.

5. a. Jack and Jill are married. They want to buy the hill owned by Jill's uncle. Jill calls her uncle and asks that in trade for the great love she has for him will he sell she and Jack the hill? Uncle agrees. A written contract is drawn up, including terms whereby Uncle sells the hill to Jack and Jill in exchange for the great love Jill has for her Uncle. Who owns Hill?

b. While walking up the hill, Uncle points out a pail (that is filled with water) and informs Jack and Jill that it is worth ten thousand dollars, but he will sell it to them for $100.00. The true value of the pail is indeed $10,000. Jill falls in love with the pail and gives Uncle a one hundred dollar check to pay for the pail. A bill of sale is written for the sale and signed by all parties. Uncle tells her that she can take delivery the following day, as he wants to apply another coat of varnish to it. It turns out that it is well known that Uncle is an alcoholic. Uncle calls Jack and Jill the next day informing them that he revokes his offer as he claims he was intoxicated and he is backing out of the sale. Jack and Jill file a lawsuit demanding delivery of the pail. Who wins?

c. Clumsy, who is Jack and Jill's seventeen-year-old son, who lives on his own in Pasadena, Ca.., is with his parents on the hill. He disobeys his parents by "goofing" off. He falls injuring his crown (head.) He is too embarrassed to tell them and visits a doctor, Doctor Sawbones, on his own. Sawbones takes a history. Clumsy truthfully tells Sawbones he’s 17. Sawbones treats Clumsy and conducts tests, including an MRI. Clumsy's bill is for five thousand dollars. Upon receipt of the bill, Clumsy calls Sawbones and tells him that he is a minor that he is disaffirming the contract, and Sawbones can whistle at his cadavers till doomsday, because Clumsy will never pay the bill. Who, if anyone, will pay Doctor's bill, why, and if anyone pays how much will be paid?

Please discuss any/all legal issues that are raised and what is the result of each of these legal issues.
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