Is nicole required to do so

Assignment Help Business Law and Ethics

Reference no: EM13784865

1. Review the Wells Fargo Credit Corp. v. Martin. Answer the following: Did Martin act ethically in trying to enforce the judicial sale after being informed of the mistake? Why or why not? What would you have done in similar circumstances?

2. Review the Page v. Gulf Coast Motors. Answer the following: Did Glen act ethically in this case? Why or why not? Would Mary have acted unethically if she had actually orally guaranteed to repay her husband's debts and then raised the Statute of Frauds to prevent enforcement of the oral promises? Why or why not?

3. Nicole contracts to paint Jason's two-story house for $2,500. Jason realizes that he will not have the sufficient money to pay Nicole, so he transfers his rights under this contract to his neighbor, Steve, who has a three-story house. Steve notifies Nicole that Jason's contract has been assigned to him, and demands that Nicole paint Steve's house for $2,500. Is Nicole required to do so? Why or why not?

4. Joshua makes a contract to sell a rare painting to Calvin for $100,000. The written contract specifies that if Joshua should fail to perform the contract, he will pay Calvin $5,000 as liquidated damages. Of course Joshua fails to deliver the painting and is sued by Calvin for the $5,000. Can Calvin recover this amount? Why or why not?

Reference no: EM13784865

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