Cash available to complete this purchase

Assignment Help Business Law and Ethics
Reference no: EM13943883

Buyer contracted to buy Seller's house for $290,000; the contract included a representation by Buyer "that he has sufficient cash available to complete this purchase." Buyer was a physician who practiced with his uncle. He had received assurances from his uncle of a loan of $200,000 in order to finance the purchase. Shortly after the contract was executed, the uncle was examined by a cardiologist, who found his coronary arteries to be dangerously clogged. As a result, the uncle immediately had triple bypass surgery. After the operation, he told Buyer that his economic future was now uncertain and that therefore it was impossible for him to finance the house purchase. Meanwhile, Seller, who did not know of Buyer's problem, committed herself to buy a house in another state and accepted employment there as well. Buyer was unable to close; Seller sued. Buyer raised as a defense impossibility or impracticability of performance.

Is the defense good? Explain.

Reference no: EM13943883

Questions Cloud

Elke prepared the will and sent the book to matthew : After taking a business law class at State U, Elke entered into a contract to sell her business law book to a classmate, Matthew, for $45. As part of the same contract, she agreed to prepare a will for Matthew's mother for an additional $110. Elke pr..
Create an asp.net project with visual studio.net : CpCreate an MS Access database called "Members.mdb." Add a table called "tblScores" with the following columns.
Demonstrate application of process costing of a manufactur : Demonstrate application of Process Costing of a manufacturing company including the following: Determine Department WIP inventory, Calculation of Equivalent Units, Determine Finished Goods Inventory, Calculation of COGS, Determination of Gross Profit
Richard promised to have darlene''s deck : Richard promised to have Darlene's deck awning constructed by July 10. On June 20, Darlene called him and asked if he could get the job done by July 3, in time for Independence Day. Richard said he could, but he failed to do so, and Darlene hd to ren..
Cash available to complete this purchase : Buyer contracted to buy Seller's house for $290,000; the contract included a representation by Buyer "that he has sufficient cash available to complete this purchase." Buyer was a physician who practiced with his uncle. He had received assurances fro..
Theory of constraints lab points description : Theory of Constraints L A B O V E R V I E W This lab looks at bottlenecks and the calculations necessary to determine which process is the source of a bottleneck condition. Use MS Word to copy your answers. Theory of Constraints Lab Points Descrip..
Which algorithm is better for sorting short lists? : Write a method Insertion_Sort that implements the "insertion sort algorithm" simply by calling GeneralSort with an appropriate Cut_In_Two method (which you must also write). Insertion_Sort should return the sorted list and the integer C returned b..
The birmingham board of education to transport : Yellow Cab contracted with the Birmingham Board of Education to transport physically handicapped students. The contract provided, "Yellow Cab will transport the physically handicapped students of the School System...and furnish all necessary vehicles..
How many shares of common stock are authorized and issued : How many shares of common stock are authorized, issued, and outstanding? Why didn't Priceline.com pay dividends to common stockholders in any of the three years shown?

Reviews

Write a Review

Business Law and Ethics Questions & Answers

  Are subcultures in police work inevitable

Using concepts related to groups and group dynamics, explain what happened in this situation. When does group cohesiveness cease to be positive and become pathological? Are subcultures in police work inevitable

  What is the purpose or rationale of the law

o What reliable resources are available to learn about the implications of this law? o What is the purpose or rationale of the law?

  Explain covenant not to compete

Explain Covenant not to compete and Explain the way the pre-nuptial agreement (contract consideration of marriage) and why they might enforceable

  Question medical staffing decisions

Under the doctrine of _____________________ courts will not question medical staffing decisions.

  What is your definition of social justice

What is your definition of Social Justice? After reviewing another discussion/definition of social justice, up to this point, in your collegiate sojourn at Roosevelt, is your point of view regarding Social Justice clearer or more obfuscated

  Write a 700- to 1050-word paper that describes how the

write a 700- to 1050-word paper that describes how the historical development of policing in the united states relates

  Mny people think that drug use abuse and addiction is an

many people think that drug use abuse and addiction is an individuals problem and responsibility and it should be

  Lori received a credit card in the mail from a company that

lori received a credit card in the mail from a company that had taken her name and address from a white pages

  At a closing at 10 am on may 3 2005 x corp delivers

at a closing at 10 a.m. on may 3 2005 x corp. delivers 25000000 to the seller of a factory using 20000000 from bank one

  Summary of the facts of the given case

In Berghuis v. Thompkins, 560 U.S. ___ (2010) (which can also be found in the Resources link), the Supreme Court considered the position of a suspect who understands his or her right to remain silent under Miranda v. Arizona and is aware he or she..

  Relevant case and statute law

Discuss the extent to which, and the ways in which, the courts and parliament have eroded the concept of 'freedom of contract' with reference to relevant case and statute law

  Explain professional experience in the business world

Explain Professional experience in the business world and Clearly summarize lessons learned from the week as they apply to your fact pattern and make links to the readings and/or module

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