Allister goes to a garage sale and discovers what he believes to be a rare undiscovered Picasso painting. He buys it for $50 from Susan. Later, Susan learns the painting is worth $3 million and sues Allister for damages. What is the likely result?
1) Susan will recover nothing because the mutual mistake of fact was over a non-material issue.
2) Susan will recover nothing because the sale formed a valid enforceable contract.
3) Allister will have to pay Susan because of the rule of "mutual mistake,"
4) Allister will have to pay Susan damages because of "unjust enrichment."
2) Susan will recover nothing because the sale formed a valid enforceable contract.
Based on this context, Susan ideally cannot recover any damages because Susan and Allister has been involved in a purchase and sale of good and hence that is termed as an enforceable contract. As the contract is fulfilled, there is no scope for any damage and maintenance accordingly for the same
Allister goes to a garage sale and discovers what he believes to be a rare undiscovered...
ss. Bradford agrees to buy 10 new computers from Sidney for $1,000each. This is a good deal for Bradford since the market price everywhere else for each computer is Sidney breaches his signed contract and fails to deliver any computers to Bradford. No money has been paid yet. A. Bradford is not entitled to damages from Sidney because he took advantage of him. B. Bradford is entitled to $5,000 in damages (the difference between contract price and market price). C....
1. Which of the following is true about a promissory estoppel? A) It is invoked in cases having incompetent parties. B) It permits a court to order enforcement of a contract that lacks consideration. C) It allows for a party to claim goods that were never paid for. D) It is invoked in cases that involve a promissory note. 2. Which of the following is true for a minor under the infancy doctrine? A) A minor is bound to the...
multiple choice answers in one (1) document. Maker manufactures printing presses. News, a publisher of a local newspaper, was interested in purchasing a few presses. Rep, a representative of Maker, met with Bill, the president of News, to describe the advantages of Maker's presses. Rep also drew rough plans of the alterations that would be required in the News pressroom to accommodate the new presses, including additional floor space and new electrical installations, and left the plans with Bill. On...