Question

The subject is Commercial Law.

Don't care about my answer. The answers my marked is not sure, so just show your answers.

Sam, a sophisticated property developer, befriends ninety-year-old Fred, who owns a large farm property on the edge of a rapidly expanding metropolis. Sam convinces Fred that Fred would be happier in the Shady Acres Retirement Village and offers to pay Fred $1000 per acre for his farmland. Shortly after Sam buys the property and Fred moves into Shady Acres, Fred dies. Fred's children learn only after Fred's death the terms of the sale. They are shocked because they know properties like Fred's have been selling for quite a bit more than Fred received. In this situation a The sale could be overturned using the concept of duress. Ob The trustee of Fred's estate may be able to raise the issue of undue influence to successfully overturn the one-sided sale. O C) Fred's children will not be able to do anything because the sale has closed. d) The sale could be overturned using the concept of non est factum, but not without Fred being available to testify.

Answer 1

Answer 1=the trustee of Fred's estate may be able to raise the issue of under influence to successfully overturn the one-sided sale

Reason- As the contract was made below the market value thus there is a clear indication that the contract was made by the direct or indirect pressure or influence, therefore, the issue of under influence can be raised by the trustee to liquidate the contract

Answer 2= No, your silence cannot be used as a binding form of acceptance

Reason- In the contract, it is important that the acceptance of the offer has to be given loud and clear and no indicative means can be used for the acceptance of the offer such as being silent, not responding to the offer. Until the offer is accepted verbally or in written the terms will not be binding

Answer 3=tentatively accept the two lowest bids, and then invite those bidders to sweeten the deal than accept one of those two new bids

Reason= The tender process should select one of the parties from the original offers only

Answer 4= Acceptance

Reason = The post box rule of acceptance indicates that the acceptance of the offer will be considered as soon as the letter of offer's acceptance is mailed.

Answer 5=condition precedent

Reason- condition precedent is the terms and conditions that are needed to be satisfied before the performance of the contract is needed