Irac formula to cover rule of law and apply

Reference no: EM1326357

While Avery and Ida Zehmer, husband and wife, were drinking with W.O. Lucy, Mr. Zehmer made a written offer to sell a 471-acre farm the Zehmers owned to Lucy for $50,000. Zehmer contends that his offer was made in jest and that he only wanted to bluff Lucy into admitting that he did not have $50,000. Instead, Lucy appeared to take the offer seriously, offered $5 to bind the deal, and had Mrs. Zehmer sign it. When the Zehmers refused to perform the contract, Lucy brought this action to compel specific performance of the contract. Is this contract enforceable? Use the IRAC formula. Issue, Rule, Application, Conclusion.

Reference no: EM1326357

Questions Cloud

If an owner of a industry wanted to make a trip : If an owner of a industry wanted to make a trip for non-business use and their lost wages was not tax-deductible.

System and network monitoring solutions : IT Market - I need to know the markets status, the growing in next 5 years. I'm performing a research for the product HealthMonitor that contain all these features.

Explain information about internet transactions : Explain Information about Internet Transactions and what are some special issues that arise in Internet transactions

Important information about equivalent yearly worth : Important information about Equivalent yearly Worth. With an interest rate of 10% per year and given the following estimates, the annual worth of alternative ''F'' is closest to

Irac formula to cover rule of law and apply : Is this contract enforceable? Use the IRAC formula. Issue, Rule, Application, Conclusion.

Price of products after implementing new technology : Price of Products After Implementing New Technology - Should you recommend the current price for the modules be maintained after implementing the new technology in the hopes of earning a substantial profit, or will it be wiser to lower the price fo..

Identifying the commonalities in terms of leaders : Analyze and identify the commonalities in terms of these leaders' personalities, communication styles, ego, personal will, and other leadership qualities.

Explain research & discuss opportunities : Explain Research & discuss opportunities for a new e-business launch and Research data that focuses on business models used for online environments

The condo owner was formerly renting the unit every month : They could have rented it on the open marketplace for $700 per month. The condo owner was formerly renting the unit for $500 every month.

User Account

All Pages