Reference no: EM131122924
1. To promote the new minor league hockey team coming to town, the owners of the team, H.K. Enterprises, announces a contest to name and create a mascot for the team, offering the winner a prize of $10,000 and season tickets for life. Before a winner is announced, the owners decide the prize money is more than they can afford. Discuss whether they can change the prize before the contest is over by defining bilateral and unilateral contract, applying the correct type to the facts, and reaching a conclusion?
2. Jose and Maria were renting their home and asked their landlord, Martin if he would consider selling it to them. Martin encouraged them to apply for financing, and even referred them to a mortgage broker. However, when they applied, they were told they needed to improve their credit score to qualify for a mortgage. To help establish credit, Jose and Maria took out a loan to add a garage onto the house, so Jose could do car repairs at home to earn extra money. When Maria lost her job, they missed their rent payment to Martin who promptly sued to evict them. Do Maria and Jose have a successful argument for a quasi-contract to recover the amount they spent to build the garage? Discuss whether Martin will be unjustly enriched?
3. A vendor at the flea market has a table full of purses for $40, which appear to be identical to top designer brands that sell for $400 or more. Although Nicole suspects that they might be fakes she can't pass up a bargain and buys 5 of them in 5 different colors. When the first one falls apart in a week, she takes them all back to the vendor and asks for a refund. The vendor points to the sign that says, no refunds or exchanges, and refuses to take them back. Does Nicole have a right to demand that the contract should be void or voidable based on the violation of copyright laws that protect brand name designs?
4. Office Supply Center sends out an email to all of its customers stating, "Free tote bag and 20% off everything that fits in it, to the first 100 customers! Is this an offer or just an advertisement? What additional terms are needed to make the offer definite and certain?
5. David and Jennifer need new siding on their home, but the deck needs to be repaired before the siding can be done. They get competing estimates from contractors, and tell Denise from The House Fixers that their offer is acceptable but the work can't be done until the deck is finished. Denise says, "That's fine, just call us when you are ready to start." David and Jennifer have all kinds of trouble getting the deck contractor to finish the work, which is further delayed by weather conditions, so an entire year goes by before they contact The House Fixers to schedule the siding work. Denise is no longer working there, and the new office manager, Karen says the contract is no longer valid and has to be rewritten to reflect new pricing. Analyze whether the contract is valid by addressing who was the offeror and who was the offeree, whether the terms of the offer and the acceptance were definite and certain and whether the offer was rejected by lapse of a reasonable time?
6. Felicia texts her sister, Krissie, "Will sell u my car for $500, need money ASAP" Krissie knows the car is worth ten times that, but her sister really needs the money, so Krissie texts back, "OK". Krissie successfully runs a cupcake food truck, so she writes her sister a check from the business account for "Krissie's Kupcakes", and puts it in the mail to her sister. However, a week later when Krissie finds time to go get the car, she finds out that Felicia has sold it to someone else for $3000, but of course she has already cashed the check. When the two sisters end up on the Judge Judy show, Felicia testifies that her sister should have known that her offer was so low she wasn't serious about selling it for so little, and that she cashed the check assuming it was payment for the when she helped her sister out when the truck was parked at the state fair for a week. Will Judge Judy decide that the sisters made a valid offer and acceptance for the sale of the car?
7. Review the Ohio Statute of Frauds, here: Chapter 1335: STATUTE OF FRAUDS and here: 1302.04 Formal requirements - statute of frauds - UCC 2-201 . State whether each of the following contracts must be in writing under Ohio law and identify the applicable statute number and subpart:
a. A contract with a celebrity to be featured in a 2 year marketing campaign.
b. A contract to buy a kayak off Craig's List for $700.
c. An agreement by the owner of a business to guarantee his company's payment of an account at a local supply store.
d. A contract to buy space in a shopping center to run a retail store