These intentionally fraudulent representations

Assignment Help Management Theories

Reference no: EM131045309

Bettye Gregg offered to purchase a house from Head & Seeman, Inc. (seller). Though she represented in writing that she had between $15,000 and $20,000 in equity in another home that she would pay to the seller after she sold the other home, she knew that she did not have such equity. In reliance upon these intentionally fraudulent representations, the seller accepted Gregg's offer and the parties entered into a land contract. After taking occupancy, Gregg failed to make any of the contract payments. The seller's investigations then revealed the fraud. Head & Seeman then brought suit seeking rescission of the contract, return of the real estate, and restitution. Restitution was sought for the rental value for the five months of lost use of the property and the seller's out-of-pocket expenses made in reliance upon the bargain. Gregg contends that under the election of remedies doctrine, the seller cannot both rescind the contract and recover damages for its breach. Is Gregg correct? Explain.

Reference no: EM131045309

Questions Cloud

Issues of organizational or project planned change : Issues of organizational or project "planned change." If you find a particularly relevant piece of literature, please share it with the class. The "Organization Development" literature is a good place to start your search.

How and why did the industrial revolution occur : How and why did the Industrial Revolution occur? Why did it happen? In England and not China or India? Give examples to support your argument.

Comply with all of the terms of the contract : Watson agreed to buy Ingram's house for $355,000. The contract provided that Watson deposit $15,000 as earnest money and that ‘‘in the event of default by the Buyer, earnest money shall be forfeited to Seller as liquidated damages, unless Seller e..

Examine the performance of the closed-loop system : ECE 456 - Embedded Control and Mechatronics Final Project. This system is known to be unstable. Assuming that the state vector can be fully measured, design a controller to stabilize the system around the state (0, 0, 0). Examine the ..

These intentionally fraudulent representations : Bettye Gregg offered to purchase a house from Head & Seeman, Inc. (seller). Though she represented in writing that she had between $15,000 and $20,000 in equity in another home that she would pay to the seller after she sold the other home, she kn..

Develop a loading chart for resources : Using any approach you wish (e.g., trial and error), develop a loading chart for resources, Electrical Engineers (EE), and resource, Mechanical Engineers (ME). Assume only one of each resource exists.

Creation and effects of the cotton gin : Write a short paper on the creation and effects of the Cotton Gin. Everything that is referenced or compared must be before 1875.

How does the name server hierarchy relate to zone hierarchy : how does the name server hierarchy relate to the zone hierarchy? How do you deal with the fact that each zone may have multiple name servers?

Briefly discuss what you think happens to stanley : The book leaves off in the middle of Stanley's life (early 20s). Using the logic behind the theory you reviewed for part 2 of this essay, briefly discuss what you think happens to Stanley. Does he stay on the straight and narrow path living life..

User Account

All Pages