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Contract Law

Foreclosure and Bankruptcy

Hello, My mom is living in her home in Illinois. She has not paid her mortgage in about two years. My father passed away and things became too much for her to handle. She filed bankruptcy in March of this year which I think stopped her foreclosure. I believe they called it a "Stay". My question is how long does she have

Case Study

Charlize Theron has settled the $20 million breach of contract lawsuit against her, according to papers filed in Manhattan Federal Court Monday. The suit was filed last year, when Swiss watchmaker Raymond Weil claimed that Theron had worn a Christian Dior watch during a press event in 2006, despite being paid "substantial fun

Contracting Scenario is highlighted.

I'm looking for a thorough perspective on the following scenario. I need the first 4 questions answered from a "Contractor's Perspective" followed by the final 4 questions answered from the "Government's Perspective". So bottom line, if you were a Contractor how would you answer the first 4 questions and then, put yourself i

Owner orally offered to pay Andy $1000 if Andy would repair the roof...

On June 1, Owner orally offered to pay Andy $1000 if Andy would repair the roof at Owner's beach cottage. Andy requested time to think it over. Owner told Andy that he would give Andy a couple of days to think about it, but that he had to know Andy's decision no later than June 3. On June 3, Owner, impatient at waiting

Breach of Contract hypothesis

Paul was a plumbing contractor. Albert and Bert owned an apartment building. Albert and Bert explained to Paul that plumbing work was needed for their respective buildings. On January 15, Paul mailed offers to Albert and Bert, offering to do the work on their respective buildings for $2000. In each case, the of

Contracts Multiple Choice Question for paralegal program

The ABC Company placed an order with the Ohio Steel Company by sending its purchase order form. The purchase order specified the type of steel, the quantity, and the price. The purchase order stated in the boilerplate that the buyer reserved all express and implied warranties, and that the purchase order could not be varied by

Ethics & Contracts

As a businessperson, what role do you think ethics plays in contract dealings? What examples or suggestions can you provide based on your experiences?

Business Fire Insurance

In March 2004, Cassandra set up in business as a sole trader offering various video-related services from leased studio premises located in South Belfast. In April 2006, she formed Picture This Ltd and, in consideration of the transfer of the business and its assets, including the leased studio premises, to the company, she was

Minors in Contract

A minor, unable to live at home, contracts to rent an apartment for one year at $600 per month. After living there for three months, he disaffirms the contract. The reasonable value of that apartment was only $500 per month. Assuming no rent has been paid, the minor must pay: a. Nothing; the contract has bee

Liability Contract Clause is demonstrated.

Joe Bob promised his wife he would aerate the lawn this weekend. So, Joe Bob hoes to Eddie's Rentals and signs an equipment lease for the day for a grass dethatcher, sometimes called a verti-cutter. The contract contains this clause: "Lessor disclaims all liability arising from injuries caused by use of this equipment." Joe B

Foreclosure Process

Foreclosure Process a.) How does foreclosure work? b.) Steps of Foreclosure c.) Timeline for Foreclosure

Unilateral Contract and LLC Partnership

1. When there is a unilateral mistake, in what three types of situations may a contract not be enforced? Explain your answer. 2. Discuss which entity has less potential liability and greater tax advantages, a partnership or an LLC? Discuss in detail.

Contract Issues with Employment

Mary is hired by Acme business forms. Acme sells forms only in one state and Mary's territory is the Northern half of the state. Mary signs an employment contract that has the following clause. In the event Mary resigns her position with Acme, she shall not engage in selling business forms for any other company located anywhe

Being Mistaken of Subject Matter of a Contract

What is the effect of one party being mistaken about the subject matter of a contract? a. The mistaken party can rescind the contract. b. Either party can rescind the contract. c. Either party can rescind the contract, and the mistaken party can recover damages. d. Either party can rescind the contract and/or recover damag

Validating a Contract

Please help with the following problems regarding validating contracts. 7. In order for a contract to be valid, it must a. Be made by a writing signed by adults. b. Be fully performed on both sides. c. Contain an offer, acceptance, and consideration. d. Be properly filed. 8 Generally, which of the following statements

Scenario: Grocery retailier and UCC contracts/supplier contract

Scenario: Grocery, Inc., is a retail grocery store chain based in Any State, U.S.A. Grocery has stores throughout the United States. Grocery has written contracts with many different vendors to purchase the products they sell in their stores. Vendors range from individuals to international corporations. Tom Green works as the pr

Elements of Contract Law

1) What are the four elements of a contract? Discuss each. 2. What is the difference between bilateral and unilateral contracts? Discuss each. 3) When must a contract be in writing? Can a contract for over a year be oral, if not why, and if so what would be required? 4) What is legal capacity? How can it be

Contracts

It is my belief (and I could be wrong) that a contract is not valid and a company is not liable if the contract was signed by an employee who did not have the authority to enter into a contract with a third party, i.e. a switchboard operator signs a contract for a cleaning service. What law, if any, absolves the company from li

Business Partnership vs Limited Partnership

Use the following list as a guide. Evaluate the risks involved in conducting business partnership (general partnership) versus a limited partnership. 1. type of ownership 2. exposure of ownership to liability 3. taxation 4. continuity of existence 5. formality in operations 6. managerial control

Vehicle accident and your rights

I got in a car accident, so I'd like to know how can I get my rights. Details: 1. Location: in A residential complex. 2. I have liability insurance 3. I am in IL. 4. While I was driving inside the complex ( speed 13 M) the other car come out quickly from the private parking and hit me in the front of my car. 5. His ca

Contractual Remedies

A is a certified public accountant. He agrees with B, a building contractor, that he will advise B on setting up a new accounting information system if B, in return, will carry out some renovation work at the house of A's girlfriend, Fanny. But finally, B refuses to carry out his original promises. Fanny is very anxious to ha

Contract Law

What element of the contract was in dispute? How could this conflict have been avoided? What other elements could have caused the contract to be illegitimate. Consider that the plaintiff won the case. What were other ways in which the plaintiff could have been remedied in court? What sort of contracts must be in writing before t