• July 21st, 2015

VICTIMOLOGY / CONTRACTS HYPOTHETICALS

Paper, Order, or Assignment Requirements

 

READINGS: Ch. 9, 11-12,14
From Business Law Today 
1oth Edition standard Edition 
Roger/Leroy/Miller
ISBN 13: 978-1-285-06071-2
ISBN 10: 1-285-06071-7

CONTRACTS HYPOTHETICALS

DIRECTIONS: Read the following hypothetical and answer the questions below through. Be sure to give definition and elements when necessary. Partial answers will receive partial credit. Each answer must be in paragraph format. In-depth collaboration is highly encouraged. 
Use below questioner and highlighted insert to support each issue. 
Was contract valid?
Address Issues in each element in all questions? 
Was contract Enforceable / Unenforceable?
Any clauses that would assist plaintiff / defendant?
How a court will rule?

1. Cody signs and returns a letter from Dora, referring to her sale of the Bar-D Ranch and its price. When Cody attempts to complete the deal, Dora refuses, claiming that they have no contract. Cody claims they do. 
Answer Example: From chapter 9
What is a contract and what constitute a valid contract. 
What “standard” determines whether these parties have a contract (what are the 4 elements of a valid contract and of the three which one would apply to assist with this hypotheticals).
How and does the freedom of contract (Article 1, section 10 of the U.S Constitution applies. 
Answer should include how courts look at issue from the Objective Theory of contract? How a court will rule? Etc……

2.Ed, a businessperson, is a friend of Fran, the owner of a Percolated Coffee & Baked Goods store. Every day, Ed spends five minutes in Fran’s store, looking at the goods and usually buying one or two cinnamon buns or bagels. One afternoon, Ed goes into the store, looks at the items, and picks up a $1 chocolate brownie. Ed waves the brownie at Fran without saying a word and walks out. Is there a contract? If so, how would it be classified in terms of formation, performance, and enforceability?
Answer Example: From chapter 9 page 242-243
Define Formation, Performance and enforceability and which apply to this answer. 
Was this Informal or formal and explain the different, Explain in definition bilateral and unilateral and which apply to this question. Pg. 242-243. 

3. Chris promises Dina $40,000 if she graduates from Eagle College. Dina enrolls in Eagle, attends full-time for four years, and graduates. When Dina asks Chris for $40,000, Chris says, “I don’t remember promising you $40,000. But if there was a promise, it’s not enforceable, because we didn’t bargain for it. And even if there was a promise that would other-wise be enforceable, I revoke it now.” Can Dina enforce Chris’s “prom-ise”? Why or why not? 
Chapter 11
Yes or no & how can she enforce (Theory of law or doctrine) 
Answer should include: In this situation the promise was etc.….
What is a promise and how moral obligation applies.
Under what condition would promise be voided or an invalid promise. 
What contract law that are set in support of both parties? 
What is a promissory Estoppel and how might it apply to this issue? 

4. Multi Investments, Inc., offers to buy Nano Toy Corporation. On May 1, Nano provides copies of its financial statements for the previous year, showing an inventory of $10 million. On May 15, Nano discovers that the previous year’s inventory is overstated by $5 million, but does not inform Multi. On June 1, Multi, relying on the financial statements, buys Nano. On June 10, the buyer discovers the inventory overstatement. Can Multi succeed in a suit against Nano for fraud?
This issue deals with fraud. 
What is fraud and how does it apply to this issue?
Explain the elements of fraud misrepresentations and does it apply to this issue. 

5. National Drilling Company ships its only pump to American Hydraulics Corporation, the manufacturer, for repair. National hires Overland Transport, Inc., to take the pump to American Hydraulics and to return it to National as soon as the repair is complete. National is forced to suspend operations without a pump, but Overland does not know this. National expects to be without the pump for five days and to lose profits of $5,000. When the pump is not returned by the end of the fifth day, National rents a pump at a cost of $100 per day. Overland delays five more days before returning the pump. National files a suit against Overland, asking for compensatory, consequential, and punitive damages. Will National recover? 
Damages / Chapter 14
What is the difference between compensatory damages and consequential damages? Which one applies in this issue?
What are nominal damages, and when do courts award nominal damages and if does this issue apply? 
Explain damages and types of damages and which apply to this issue?
How and could this be considered a compensatory damages issue?
Will company recover and how? 
What is the definition of compensatory, consequential, and punitive and which one apply to this issue? 
Would this issue be considered a construction contract? 
Would actions be considered a breach? 
How would a court most likely view and award compensation if defendant is found at fault. Why?

 

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