Business Law

Helen easily sells the San Francisco house in which she and Tom live. Helen is the sole owner of the house. However, she has a harder time finding the right home in Portland. Helen has to make several trips to Portland before buying a house under construction. It will not be available for

She dialed the number. “Park County Realty, Vern Wilson speaking” the voice answered. Cheyenne identified herself and the property of interest. “Is it still available?” she inquired. “I’m sorry ma’am, that property is under contract just this morning. But I do believe a similar and even nicer property will be available soon. It’s across the valley a little bit and it’s really nice. I believe the asking price will be about $85,000.” Cheyenne asked if there were more similar properties available in the area. “Well ma’am, out here, “in the area” is a relative term. If you don’t have to be right in the valley, there are several others available in similar price ranges” the agent said. Cheyenne clarified her requirements and the agent affirmed “Yes ma’am, I think most of them would fit the bill.” “Let me get back to you in a few days. I would like to schedule a trip to see the properties” Cheyenne told him. “Just let me know when you’re coming. I will sure be delighted to show them to you ma’am” Vern replied. As she hung up the phone, Cheyenne felt as though she could conquer the

It is the summer of 1970 in Northern Ohio. The Hadley family is the wealthiest family out of all the families that populates the city of Toledo. They all live in a subdivision called Old Timbers Valley with mother, Lydia, father, George, and Peter and Wendy. The Darling family lives in a sky blue house on top of clouds, the Tremaine family lives in the old, enchanted house, and Old Man Geppetto lives in an Old-Italian village home. Unlike the others, the Hadley’s house is future realistic, full of technology. From lights turning on and off as one walks, stoves making food, sinks washing dishes, a nursey that illuminates the children’s imagination, and so many more laborless enhancements. The children’s nursey is called the Veldt, which can

George Hadley wants the best for his family. Already living in a smart house which was bought to make everyday life easier, the house cooks three meals a day, cleans- not just the house but the Hadley’s themselves, even brushing their teeth for them. It’s no secret Mr. Hadley is willing to spend big bucks on the finer things in life, even willing to spend an additional 30,000 dollars for another room just for his children. The Nursery. The nursery is a large room; 40 feet across by 40 feet long and 30 feet high; the room displays telepathic creations of the children’s minds and creates life to fill their every desire. “The children think of lions, so there were lions. The children think of zebras, and there were zebras. Sun-sun. Giraffes-giraffes.

In Commercial Bank of Australia v Amadio 1, an elderly couple (Mr. and Mrs. Amadio) migrated to Australia forty year ago, without formal education and without a mastery of English, were persuaded by their son, Vincenzo to guarantee and mortgage to the bank a property they owned as security for the overdraft of their son’s company to the bank. They were misled into thinking that the liability was limited to $50000 and for half a year. When their son’s company failed, the bank tried to exercise power of sale under mortgage. The liability eventually turned out to be significantly higher because the guarantee was a continuing “all monies” guarantee which was not limited in time. The couple claimed that they would not have entered into the contract if they had known about the dire financial position of their son’s company. Furthermore, the bank did not ask them to seek legal advice prior to the signing of the contract. The majority of the High Court held that the mortgage ought to be set aside due to unconscionable conduct on the part of the bank.

As a father and a provider, George Hadley wants to provide the best for his family so he did not hesitate to pay the cost “half again as much as the rest of the house” for the “nursery” room to entertain his children.

As per the standard form of contract prescribed by the Estate agents regulations (2008), page seven to fourteen show the general conditions of the contract. This area of the contract out lines the overall (general) guidelines of how things will proceed with the rest of the contract.

Pat was very frustrated because she wanted to purchase a home but lacked the funds or credit to do so even though Pat was expecting shortly to receive a one-half million dollar final installment payment for some land she sold several years earlier. Dan knew that Pat was very interested in purchasing a home and approached Pat with a proposal to assist Pat in buying a home. Dan told Pat that he would help Pat with the financing. After finding the home she wanted to buy for $250,000, Dan and Pat orally agreed that Dan would purchase the home and "when you come up with the money, I (Dan) will sell it to you (Pat) for $250,000 plus a fair commission to be determined."

_Mary wants to sell her house for $215.000; she didn't have any proposition until this young couple's offer ($170.000). Mary told to her agent that this price is out of the ZOPA, but she is ready to negotiation._

Possibly one of the best actions on the buyers’ part was their decision to hire a real estate agent to assist them in their home purchase. Agents generally have more experience and know all the right forms and such needed to complete a purchase, which was especially important for these first time home buyers. The only interactions between the buyers and seller were through their respective agents. Because each party had an agent, the legality of Marsha and the sellers’ agent’s contract is stressed. Assuming that the seller granted her agent permission to accept offers on her behalf, the agent violated

Teri is a firefighter who lives and works in Boston, Ma. She is selling her home and found a buyer named Jack. Teri received an offer from Jack for $300,000. Teri accepts the offer and they sign a contract to that effect.

The first issue to be addressed is whether Abigail’s advertisement for the collection was an offer or an invitation to treat; establishing this will aid our understanding of what Abigail’s position is in terms of her contractual obligation. Advertisements are mostly invitations to treat rather than an offer. The language of Abigail’s advertisement is imperative in trying to determine whether this is an invitation to treat or an offer. In the case, Gibson v Manchester City Council (1979), the council used the wording ‘might’ therefore the court held this advertisement to be an invitation to treat rather than an offer. Paradoxically, in Storer v Manchester City Council (1974) the title of the document read ‘agreement to sale’ therefore this constituted an offer. On balance, Abigail’s advertisement is more akin to that of Gibson v Manchester City Council insofar as she uses phrases such as ‘or near offer’ and ‘or, telephone me, if you prefer’.

Residential real estate contracts have a condition precedent. The contract does not become binding until the property has been professional inspection. This makes sure that the

Obviously, our price targets were different and unmatchable. She needed to have $190,000 and I could not pay more than $160,000. Just making propositions and trying to be flexible on additional things besides the price was not enough, because she thought she needed the money immediately. At least, it was not enough until the seller knew she had no better alternative outside the one I was able to offer.

A Contract requires several elements in order to be considered enforceable. However for the purpose of this essay we would explore one of these elements in order to effectively understand the controversial cases of Williams v Roffey Brothers and Nicholls (contractors) Ltd (1990) and Stilk v Myrick (1804). Before going any further one should briefly understand the doctrine of Consideration. Despite the vast amount of content written, the doctrine of consideration is still to this day unclear due to the inconsistency of the courts and its application of necessary rules. Consideration refers to that which the law deems as valuable in that the promisor receives from the promise that which was promised. In other words, it is the exchange of something of value between the parties in a contract. One should be mindful that in English law, every promise may not be legally enforceable; it requires the court to distinguish between are enforceable and non-enforceable obligations. This brings us to the controversial cases of Stilk v Myrick and Williams v the Roffery brothers. Many argue that that the case of Williams was wrongly decided leading to impairments in the rule initially established in Stilk v Myrick. This essay seek to analyse and critique the cases of Stilk v Myrick and Williams v Roffey Brothers and also highlight whether or not the new rule of Practical benefit lead to serious impairments in later cases.