Chat with AI
Business Law Today 10th Edition by Roger LeRoy Miller
Edition 10ISBN: 978-1133273561Business Law Today 10th Edition by Roger LeRoy Miller
Edition 10ISBN: 978-1133273561 Exercise 5
Mutual Mistake.
When Steven Simkin divorced Laura Blank, they agreed to split their assets equally. They owned an account with Bernard L. Madoff Investment Securities estimated to be worth $5.4 million. Simkin kept the account and paid Blank more than $6.5 million-including $2.7 million to offset the amount of the funds that they believed were in the account. Later, they learned that the account actually contained no funds due to its manager's fraud. Could their agreement be rescinded on the basis of a mistake? Discuss. [Simkin v. Blank, 80 A.D.3d 401, 915 N.Y.S.2d 47 (1 Dept. 2011)]
When Steven Simkin divorced Laura Blank, they agreed to split their assets equally. They owned an account with Bernard L. Madoff Investment Securities estimated to be worth $5.4 million. Simkin kept the account and paid Blank more than $6.5 million-including $2.7 million to offset the amount of the funds that they believed were in the account. Later, they learned that the account actually contained no funds due to its manager's fraud. Could their agreement be rescinded on the basis of a mistake? Discuss. [Simkin v. Blank, 80 A.D.3d 401, 915 N.Y.S.2d 47 (1 Dept. 2011)]
Explanation
Verified
Verified
Mutual Mistake
The agreement between SS...
Business Law Today 10th Edition by Roger LeRoy Miller
Why don’t you like this exercise?
Other Minimum 8 character and maximum 255 character
Character 255
