Why did the plaintiff seek specific performance as a remedy

Assignment Help Accounting Basics
Reference no: EM133077002

Question - On September 10, Paulin offered in writing to sell his crab-fishing boat to Noel for $600 000. The plaintive Noel replied in writing on September 15 that he was applying for financing to meet Paulin's terms and conditions. Noel also added that he understood that the purchase price was actually $550 000, together with a guarantee that the defendant would employ him on land at $5000 a year for seven years. The defendant replied in writing on September 16 that he had changed his mind and refused to sell the boat. Noel then brought an action for specific performance and alleged that an enforceable contract of sale existed between the parties.

a) Did a valid offer exist between the parties? Explain.

b) Why did the plaintiff seek specific performance as a remedy?

c) Provide your own example of a case in which the plaintiff would want specific performance, not damages.

Reference no: EM133077002

Questions Cloud

Jobs and labor-the nature of work and jobs is changing : The nature of work and jobs is changing. Describe some reasons for the changes and how they are affecting HR management and organizations.
What is the fair stock price of Monsters Inc : Monsters Inc. will pay its first annual dividend of $2 per share exactly 4 years from today, What is the fair stock price of Monsters Inc
What yearly payment would make the two offers : The car's inventor has offered Simes the choice of either a one-time payment of $2,00,000 today, What yearly payment would make the two offers
Collaboration promote self-analysis : How does collaboration promote self-analysis and help you prevent or correct mistakes?
Why did the plaintiff seek specific performance as a remedy : Paulin offered in writing to sell his crab-fishing boat to Noel for $600 000. Why did the plaintiff seek specific performance as a remedy
What made that feedback ineffective : Share an example of a time when you received effective feedback that helped you improve your performance. What made that feedback helpful?
Gerontology conference presentation : Imagine you have been asked to prepare a presentation for the Annual Gerontology Conference.
Determine the financial implications of accepting the order : Assume the company has a capacity of 50 million units per year, Determine the financial implications of accepting the order
Gerontology medicine and wellness : Describe the types of jobs that older workers of today have and what you expect to be doing when you are ready to retire.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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