Reference no: EM131791907

Remedies

In an effort to increase the caliber of his herd, Ron agrees to purchase Schooner, a champion race horse, from Barbara. While it is well known that Schooner has an injured leg and will no longer be able to race, Ron's only interest in Schooner is for breeding purposes.

While the necessary papers are being drafted to memorialize the transaction, Barbara's granddaughter, Lexi, falls in love with Schooner. Barbara notifies Ron that she will not sell Schooner to him after all, but that she will be happy to sell Steamboat for ten percent less than their agreed price for Schooner. Barbara also tells Ron that Steamboat's credentials as a race horse are similar to, if not better than, Schooner's.

Ron realizes how important Barbara's granddaughter is to her, and he feels confident that the original agreement to purchase Schooner is enforceable.

So Ron demands that Barbara lower the price for Steamboat by another ten percent, or he will not only sue for specific performance, but he will seek to have her enjoined from selling either horse.

What issues, relating to remedies, are raised by these facts, and how will they most likely be resolved?

Final Exam

1. Put your name on the first page of each exam answer.

2. Each exam answer must start on a new page.

3. Your answer should be in a full narrative essay with much detail. using IRAC format.