Reference no: EM132070419
Assignment : What About the Contract?
Maynard, 18, was shopping for his first car. With a mere $4,000, he was hoping for a deal. He found a used convertible 1979 Mustang at Pierre's Awesome Car Place for $5,000.
Pierre claimed that the Mustang was "one of a kind" and "the best car in town." He said "the engine and brakes are in tip-top shape." Pierre even promised to bring the price down to $4,000, if Maynard agreed to buy it that very day.
Maynard immediately signed an agreement that contained an "as-is" clause and drove off in the car. Two days later, the brakes failed while driving and Maynard crashed into a tree.
The front of the car was damaged and Maynard sustained mild injuries. Infuriated, Maynard immediately towed the vehicle back to Pierre's and confronted him. Pierre shrugged it off, saying, "Too bad, bad brakes or not, you agreed to the "as-is" clause in the contract!"
Now Maynard does not know what to do. He has lost two weeks of work pay due to the injury, a damaged car that cost him $4,000, and physical pain and mental trauma. To make things worse, Maynard discovered the car's fair market value was actually only $1,500 at the time of the purchase.
Research contract concepts related to formation and defenses to enforcement using your textbook, the Argosy University online library resources, and the Internet. Based on the facts of the case and your research, respond to the following questions:
Was a valid contract formed between Pierre's and Maynard? Explain.
If a valid contract was formed, does Maynard have any arguments to have his money refunded?
What are Maynard's rights under the Uniform Commercial Code (UCC) with respect to the "as-is" agreement he signed?
What damages, if any, can Maynard sue Pierre's for?
Discuss any ethical issues concerning Pierre's behavior.
|
Effective strategy for nokia to respond to micromax
: What do you think would be more effective strategy for Nokia to respond to Micromax - differentiate itself from Micromax or replicate what it is doing? Explain.
|
|
Prepare the journal entry to record the sale
: Sole Ware, a shoe retailer, sells boots in different styles. Prepare the journal entry to record the sale of 600 pairs of boots in April
|
|
Direct labor variable overhead fixed overhead purchase price
: Jobs, Inc. has recently started the manufacture of Tri-Robo, a three-wheeled robot that can scan a home for fires and gas leaks and then transmit
|
|
How much interest expense will be recorded
: On January 2, 20x5, Clair Inc. signed a 9% mortgage payable for $200, 000, how much interest expense will be recorded
|
|
Discuss any ethical issues concerning pierres behavior
: What are Maynard's rights under the Uniform Commercial Code (UCC) with respect to the "as-is" agreement he signed?
|
|
Calculate the takt time for the information
: Please Answer the question only if your sure about it Calculate the takt time for the following information: 1) 10 hour work day. 2) 2 Shifts 3) 45 minute lunch
|
|
What are the benefits to the aim approach
: What are the benefits to the Aim Approach: Toward an All-Inclusive Workplace? Please provide opinions, thoughts and feelings and provide any references.
|
|
Create a comprehensive mission statement for the clinic
: Create a comprehensive mission statement for the clinic, and discuss how it will facilitate the provision of quality services.
|
|
Sort of a matrix organization
: Many project today operate within some sort of a matrix organization. Discuss the differences between a strong and a weak matrix organization.
|