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Define don liquidated his other investments and a trust fund

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Reference no: EM131628419

Scenario: On April 1, Jennings, a licensed used car dealer, wrote a letter to Wheeler in which he stated:

"I have a 1955 Thunderbird convertible in mint condition that I will sell you for $15,000; I will keep this offer open for you at any time until May 9." [Signed], E. Jennings.

On April 15, having heard nothing from Wheeler, Jennings sold the Thunderbird to another party. On April 29, Wheeler told Jennings that he accepted the offer and tendered the $15,000, in cash. When Jennings told Wheeler he had already sold the car to another party, Wheeler claimed Jennings had breached their contract.

Is Jennings in breach, why or why not?

Learning Activity 2: due Thursday at 11:59 pm

Scenario: Don, an elderly man, lives with his nephew Evan. Don is entirely dependent on Evan for support and his care. Evan advised Don to "invest" in Evan's new consulting business or Evan will no longer support him. Don liquidated his other investments and a trust fund, and signed a contract with Evan giving all his investments and trust funds to Evan for Evan's new business.

Later, Don had doubts about Evan's new consulting business and wanted out of the contract.

Can Don set aside the contract with Evan, or is it valid and enforceable? Why or why not?

Reference no: EM131628419

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