Magnuson Moss Warranty Act (a/k/a Federal Lemon Law) Abstract As established by the Magnuson-Moss Warranty Act of 1975, all written warranties require a title of either “full” or “limited” and be specific as to coverage. In some states, the limited warranty is required to have an “as is” disclaimer so as to be very clear to the buyer. Otherwise, the implied warranty of merchantability is applied. In the case study at hand, the sales contract between Raymond Smith and the new car dealer, assuming
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another. The contract is a bargaining process. In other words, to consider there is a consideration, Teresa must provide benefits to the volunteers for their performance. It is known in the articles that the volunteers are voluntary to provide service because some of them are from Gaslight Production and some of them are willing to help Teresa. Their actions are voluntary, which means that Teresa does not provide any benefits to them. However, Teresa still asks them to sign the contract. In this situation
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legally binding agreements, such as contracts, may become invalidated for multiple reasons. For instance, lack of capacity (Unenforceable Contracts, n.d.) may nullify a contract if at least one party is underage, or doesn’t quite have the mental capacity needed to thoroughly understand what the agreement consisted of. This would not allow a dishonest person to take advantage of a person who is mentally unable to make a rational decision. Invalidation of a contract also includes duress. This occurs
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forces her into bankruptcy. Donna wants Gekko to pay the full amount awarded to Vic since she feels Gekko had a duty to negotiate in good faith and could have settled the case for the amount they are already going to pay to Vic. Under Ohio case law there are two cases that will have a direct impact on how the Ohio civil court will most likely rule on Donna’s suit against Gekko. In the case of Shaeffer, Whiting v. Grange Mutual Casualty Company, 1981 Ohio App. Lexis 14351 (Ohio Ct. App. 1981)
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could walk to the Harvard library whenever she gets bored. Therefore, Teri decides to sell her home. She lists her home in an ad and receives an offer from Jack to buy her home for $300,000. Teri accepts the offer and they sign a contract to that effect. After the contract is signed, however, Teri learns of a Boston municipal rule that all firefighters must live within the Boston city limits. Since Cambridge is outside Boston, Teri decides that she can't move after all. She calls Jack and tells him
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writer has discussed that contract is a legally enforceable agreement that meets certain specified legal requirements between two or more parties. Terms of contract are statements that made by one party in order to encourage the other party to enter into the contract. It should be clear, promissory and capable of acceptance. Terms of contract can classified as conditions and warranties. Conditions terms are term of major importance which goes to the root of the contract. It entitles innocent party
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Malcom Chapter End Q & A Chapter 14 14.2- Real Property Issue ------------------------------------------------- Is the oral contract between Briggs and Sackett in violation and voidable under the Statute of Frauds? In Briggs v. Sackett, Briggs bought a home under mortgage but came upon unforeseeable financial instability. The Briggs then spoke with their in-laws, the Sacketts, about purchasing the home with the conditions that they pay the 3 months arrearages or the overdue balance on the
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Charlize Theron Breach of Contract Lawsuit Professor Navarro - LS311: Business Law I Unit 5: Contracts: Part II By: Monique Dallas-Upshaw January 10, 2013 In this case, Charlize Theron has a $20 million breach of contract lawsuit against her. The suit was filed,
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Business Law 201 Spring 2007 Makeup Final Professor Steven Isler, Spring 2007 Exam Instructions: There are sixty questions on this exam and five extra credit questions. You have seventy minutes to complete it. This exam will make up forty-five percent of your overall grad. In the True/False section indicate whether the sentence or statement is true (A) or false (B). In the multiple choice section identify the letter of the choice that best completes the statement or answers the question. Each
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Perspective—Promissory Estoppel Instructions: One of the difficult issues facing business managers today has to do with promises made to employees. Generally, the law provides that a person who has relied on the promise of another may be able to recover under the doctrine of promissory estoppel. The Restatement (Second) of Contracts Section 87(2) provides as follows: A promise which the promisor should reasonably expect to induce action or forbearance on the part of the promisee or a third
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