Business Law

CASE #1: Steven Phillips purchased an sport mettle at Joes article of furniture introduce for $700 on October 11, 2005, shortly after base into his first apartment. A sign posted on the realize gross sales counter read All sales concluding, no exchanges, no refunds. Thinking he got a reasonably salutary deal, Steven pays currency for the entertainment center and fills out the necessary forms for delivery. ii age later, Joes Furniture Store nonifies Steven Phillips that they sold the entertainment center at the wrong price and will not be able to deliver it unless he pay an additional $500. Steven Phillips sues Joes Furniture Store for breach of sire. Who wins and why? RULE(S) OF constabulary: In put together for a curve to be stuffing and enforceable, it mustiness meet the six requirements of a valid contract, angiotensin-converting enzyme of which is the absence of negative national. One form of invalidating content is a misapprehension. A misident ify occurs when both parties are ridiculous as to the same set of facts. A contract containing a usual mistake may be rendered revocable by all party. A mistake of comfort, however, does not constitute invalidating direct and does not render a contract voidable. exercise: The contract for the sale of the entertainment center was mutually concur upon at the date of sale, October 14, 2005.

The sign reading All sales final strictly binds both parties to the terms of the contract. Joes Furniture Store and Steven Phillips have made a bilateral mistake regarding the judge of the entertainment system. Steven Phillips pe rceived the price of $700 dollars as a depe! ndable deal and had no reason to suspect the mistake. Furthermore, the mistake was not caused by any fault of Steven Phillips. Both parties entered into the contract agreeing upon the value of $700 justly and in good faith. Therefore, the contract is not voidable and Steven Phillips wins the case. CASE #2: Mary McGowan, an expectant mother, chartered nightstick Gaines, a contractor, to build an additional room in her mob for her...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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