Explore BrainMass

Explore BrainMass

    Contract Liability

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Scott offers to sell Cliff a boat for $500. Cliff replies, 'I think I want the boat, but let me have a week to consider.' Scott replies, 'OK. I won't sell the boat to anyone until after one week from today.' The next day, Scott sells the boat to Bill for $600. The day after, Scott tells Cliff he already sold the boat. Nevertheless, Cliff tenders $500.

    a. Is Scott contractually liable to Cliff?
    b. Would your answer change if Scott were a merchant and his promise not to sell for a week was in writing?

    © BrainMass Inc. brainmass.com June 4, 2020, 2:07 am ad1c9bdddf
    https://brainmass.com/business/business-law/contract-liability-440394

    Solution Preview

    a. In this case, Scott would be contractually liable to Cliff, due to the fact that these individuals engaged in a verbal agreement which is legally binding in almost all jurisdictions. Cliff asked Scott to agree to let him have a week to ...

    Solution Summary

    This solution discusses liabilities included in a contract.

    $2.19

    ADVERTISEMENT