Non-professional bailee might be able to limit liability

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Reference no: EM132118186

True or False

1. In Washington, a non-professional bailee might be able to limit liability to the property owner for loss of the goods that are the subject of the bailment (e.g., an automobile).

2. In order for a court to confirm that two “partners” have truly formed a partnership through their written agreement to acquire real estate, the partners must prove that they are actively carrying on a business; mere passive ownership of property is not enough to establish the existence of a legal partnership.

3. In order to prevail on a theory of “commercial impracticability,” a party’s performance under the contract must become extremely costly or extremely difficult, and the party who wants to take advantage of the defense must show that the commercial impracticability situation was not foreseeable.

4. An agent with express authority from a principal to sell real property at a non-judicial foreclosure sale for a stated minimum amount will still bind the principal to a sale of that real property for a lower amount, if the agent mistakenly opened the bids for sale of the property at that lower amount, and the buyer could have reasonably relied upon the agent’s apparent authority to sell the property for the lower amount.

Reference no: EM132118186

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