Peter and donald were long time coworkers

Assignment Help Business Law and Ethics
Reference no: EM13900836

Peter and Donald were long time coworkers. Donald lived in Westwood and Peter lived in Long beach, however Donald decided to sell his house and move to a countryside. He also knew that Peter and his wife are looking for a new house in Westwood because their daughter just got accepted to UCLA and they want to move to Westwood where Peter's work was also located. Donald offered to sell the house to Peter and upon inspecting the house Peter and his wife Lena loved it. It was only 3 years old house, with 3 bedrooms, in the middle of the city yet a quiet neighborhood, exactly what Peter and Lena wanted. They also agreed on a price, shook hands and called it a deal.

Peter and Donald agreed on the price and Peter paid 1% of the entire price and they agreed that each month for the next 15 years Peter will periodically make payments. After a month Peter started making small improvements to the house, decorating it making it a home, place full of love and warmth. After 2 months where improvements were done they moved in. They sold their house in Long Beach and now Westwood was their home. 6 months had gone by and Peter continued to make monthly payments, but at that time Donald missed Westwood, he found the countryside life very monotone and boring and he wanted to come back to the city.   One night while talking to an Attorney friend he told about selling his house to Peter but there is no paperwork, and the attorney told him that such contracts are unenforceable because contracts for sale of land MUST be in writing. Donald got excited that he can get his house back since he is still the owner on the paper, and he called Peter requesting the house back, Peter refused and sued Donald asking the court for specific performance so the court will give the title of the house to Peter.

1) Under what theory can Peter sue and Win. (Talk about the Law and its exception, be detailed and thorough. Do it in IRAC Format :-) 

2) What if Peter went to Donald one night, threatening to kill him unless he signs a contract by which he transfers the title of his Westwood house under Peter's name in a written, legal form. Could he be successful, Why? or Why not? (Do a SEPARATE IRAC for this Question)

3) Imagine Donald sold his house to Peter using all legal means, they had a written contract, however knowing how much Peter loves Jacky Chan he falsely told Peter that before him Jacky Chan was living in this house and the ONLY reason why Peter bought the house was the fact that he relied on Donald's statement. Later on he found out  about it and Rescinded the contract. On what legal ground did Peter succeed?

Reference no: EM13900836

Questions Cloud

What is the interpretation of profit here : What are the interpretations of "marginal benefit" and "marginal cost" here? Calculate marginal benefit and marginal cost per each 10% increase in the rate of inoculation. Write your answers in the table.
Human activities threaten aquatic systems : What major ecological and economic benefits are provided by marine ecosystems? How do human activities threaten aquatic systems? What are the three major life zones in an ocean? Be specific in your answer, distinguishing between coastal zone and o..
Jack tallas came to the united states from greece : Jack Tallas came to the United States from Greece in 1914. He lived in Salt Lake city for nearly 70 years, achieving great success in insurance and real state. During the last 14 years of his life his friend Peter Dementas helped him with numerous pe..
What kinds of disabilities might an ell have? : What kinds of disabilities might an ELL have?
Peter and donald were long time coworkers : Peter and Donald were long time coworkers. Donald lived in Westwood and Peter lived in Long beach, however Donald decided to sell his house and move to a countryside. He also knew that Peter and his wife are looking for a new house in Westwood becaus..
Cross cultural communications challenges : Cross Cultural Communications Challenges
Why is unrealized appreciation included as part of income : Determine the total comprehensive income. Determine the total other comprehensive income as a percent of comprehensive income for Berkshire Hathaway. Why is unrealized appreciation (gain) included as part of other comprehensive income?
How much profit or loss would they earn : Suppose that this firm operates in a perfectly competitive market. If the market price in this perfectly competitive market is $11 how much output would the firm choose to produce? How much profit/loss would they earn
Make the journal entry to record stein purchase : Make the journal entry to record Stein's purchase of the partners' interest.

Reviews

Write a Review

Business Law and Ethics Questions & Answers

  Legal environment of business caselet

The assignment in Law deals with the topic "Legal Environment of Business". A case study about Mary, a newly joined employee who is working in the USA and Europe. She faces few issues at her work place in Europe and tries to talk to her manager who s..

  Business ethics & legal issues caselet

This assignment is about the concept of Business Ethics & Legal Issues. The laws relating to these can be found in Antitrust laws. These laws are concerned with those large corporations which have a majority of market share, mergers and acquisitions.

  Questions on business law and ethics

Examples of securities that are exempted from the registration provisions of the 1933 Act and involving misstatement of material facts in a prospectus.

  Discuss the doctrine of ratification of pre-incorporation

With the aid of a decided cases, discuss the doctrine of ratification of pre-incorporation contract.

  Discuss the extent of phoenixing activity

It has been estimated that about 6,000 phoenix companies operate in Australia, costing government and the community hundreds of millions of dollars per year and impacting on individuals.

  Application of law to facts

Company Law, Application of Law to Facts and Conclusion.

  Question on business law and ethics

This assignment related to business law.

  Questions on business law

Answer all the questions under business law.

  Iidentify the issue raised by the facts

Iidentify the issue(s) raised by the facts, identify the relevant legal principles, apply the relevant legal principles to the facts, reach a conclusion.

  Evaluation of software development

Prepare a report and present an evaluation of the subsequent methodologies for software development in terms of cost, resources and time.

  Business value and ethics

Business value and ethics,  Bart agrees to put Sam's Super Bowl champion-ship autographed football in his sports store to sell for $1,500. Sam agrees to pay Bart a 15% commission for selling the ball. If Joe comes in the sports store and offers Bart ..

  Explain what is meant by income by ordinary concepts

Advise what tax consequences arise in respect of the payments.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd