Question 1

Some consumer protection legislation provides for a cooling-off period.What is a cooling-off period and how does it benefit consumers?

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Question 2

Mr.Chessman,an elderly man,is asking a prominent businessman,Mr.Ross,to sign a contract for the restoration of a downtown apartment building that Mr.Ross owns and that Mr.Chessman lives in.During the ensuing discussion,Mr.Chessman states,"And if you don't sign,your children may suffer." Mr.Ross reluctantly signs.Will this contract be enforceable against Mr.Ross? Explain.

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Question 3

Define undue influence and distinguish undue influence from duress.

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Question 4

What is meant when we say that an innocent party may be entitled to indemnity or compensation as a result of an innocent misrepresentation?

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Question 5

When describing the car he had for sale,Jack told Jill it had genuine cowhide seat covers.The car in fact had imitation leather seat covers.Jill decided to buy the car,in part because she liked cowhide seat covers.The written contract made no mention of the type of seat covers.When Jill took possession of the car,she discovered that the seat covers were not cowhide and asked you the following questions:
a.What is the name of all potential causes of action that I have has against Jack?
b.What remedy or remedies can I seek?
c.What elements must I be able to prove in order to be successful?
Answer the above questions providing reasons for your answers.Express an opinion about the probable outcome of Jill's action.

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Question 6

Why are loan transactions among the most heavily scrutinized consumer contracts? What protections are provided to consumers?

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Question 7

Some current consumer protection legislation offers consumers a cooling-off period.If a consumer elects to cancel or rescind a contract during the cooling-off period,what reasons must she or he provide?

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Question 8

What is rescission? Explain how rescission relates to mistake in contract law.

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Question 9

Explain the difference in approach of common law and equity to a contract that is entered into by a party under a mistake as to identity caused by the fraud or deceit of the other party.

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Question 10

Explain the concept of non est factum and how this concept has evolved over the years.

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Question 11

James has an old car for sale.Betty views the car and in response to a question about the age of the car,James replies,"I think it is a 1929 Ford." Betty purchases the car,but the written contract makes no mention of the year of the car.Actually,the car is a 1932 Ford.What remedy does Betty have? What defenses are available to James?

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Question 12

Ryan Thompson,a lawyer,was approached by a client who wished to sell him shares in a business he owned.Ryan accepted the offer by purchasing the shares.The business is a tremendous success.Later the client claims that he sold the shares to Ryan because of Ryan's undue influence over him.What must the client prove in order to be successful in his action?

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Question 13

Why does the Bill of Goods Act restrict the doctrine of caveat emptor in relation to problems with ownership of goods?

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Question 14

Linda's lawyer took a city lot she owned in payment for services rendered.Now Linda is claiming undue influence and suing to get the land back.What must she prove and what must the lawyer try to prove?

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Question 15

You are going to lend money to a corporation owned by Mr.X.You are requiring that Mr.X and his wife,Ms.Y,sign personal guarantees agreeing to be responsible in case of default.Why might you be concerned about your ability to enforce the guarantee against Ms.Y,and how should you protect your position?

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Question 16

A party who seeks rectification of a document must satisfy the conditions for rectification.Explain.

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Question 17

Donna Brown owned a flower shop,which she was anxious to sell.Charles Blue visited her shop and discussed a possible purchase.During those discussions,Donna stated that she was sure 2013 sales would exceed $400 000 and that sales for 2012 were more than $360 000.Charles was impressed with those figures and offered to purchase the flower shop for $110 000 cash.The sale was completed one week later (November 24,2012)and was documented with a brief written agreement that did not include anything about past sales.In April 2013,Charles had the 2012 financial statement for the flower shop prepared and discovered that actual sales for 1997 were $320 000.In addition,Charles knew that 2013 sales were 5 percent below sales for the same period a year earlier.Charles confronted Donna with those figures and Donna was evasive and refused to accept any responsibility,saying only that the written agreement contained no mention of sales figures.Charles asks you the following questions:
a.Do I have a right to sue Donna,and if so,what is the legal basis for my action? What must I prove and what are my chances of success?
b.What remedies could I seek,and do I have different remedies from which I can choose?

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Question 18

Benny,who owns a classic car,lives in an apartment with a disabled roommate.Benny is approached by Dick Albert,who advises Benny that if he does not sell his classic car for $2000 (a fraction of its value),the roommate "will have both his arms broken." Benny then signs the contract and Dick pays him the $2000.Benny was never threatened at any time during the transaction.What remedies can Benny pursue and what must he do in order to pursue those remedies? What is the likelihood of success?

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Quiz 9: Grounds Upon Which a Contract May Be Set Aside: Mistake and Misrepresentation