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Business Law and the Regulation of Business 11th Edition by Richard Mann, Barry Roberts
Edition 11ISBN: 978-1133587576Business Law and the Regulation of Business 11th Edition by Richard Mann, Barry Roberts
Edition 11ISBN: 978-1133587576 Exercise 29
William tells Carol that he paid $150,000 for his farm in 2008, and that he believes it is worth twice that at the present time.
a. Relying upon these statements, Carol buys the farm from William for $225,000. William did pay $150,000 for the farm in 2008, but its value has increased only slightly, and it is presently not worth $300,000. On discovering this, Carol offers to reconvey the farm to William and sues for the return of her $225,000. Result?
b. Modify the facts in (a) by assuming that William had paid $100,000 for the property in 2008.What is the result?
a. Relying upon these statements, Carol buys the farm from William for $225,000. William did pay $150,000 for the farm in 2008, but its value has increased only slightly, and it is presently not worth $300,000. On discovering this, Carol offers to reconvey the farm to William and sues for the return of her $225,000. Result?
b. Modify the facts in (a) by assuming that William had paid $100,000 for the property in 2008.What is the result?
Explanation
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a)Result of the suit against Mr. WM for ...
Business Law and the Regulation of Business 11th Edition by Richard Mann, Barry Roberts
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