Top Posters
Since Sunday
Home Q & A Board Humanities Legal Studies
New Topic  
bigcaat bigcaat
wrote...
Go to Answer
Posts: 640
Rep: 0 0
6 years ago
James purchases an antique chair at a garage sale for $150.00. Later he sells it to Jacqueline for $300 and makes a nice profit. A few months later the Antiques Road Show comes to town and Jacqueline takes the chair to the show to be valued. She is advised that the chair dates as far back as 1866 and is worth approximately $5000. Which of the following is true?
a. James made a mistake about the value of the chair and so the contract will be set aside by a court.
b. James did not make a legal mistake because he was careless in determining the right price.
c. James can plead non est factum.
d. James did not make a mistake about the value of the chair because the radically different price is one of the risks expected in the contract.
e. If Jacqueline sells the chair, the court will order that Jacqueline pay a portion of the proceeds of sale to James because James made a mistake.
Textbook 
The Law and Business Administration in Canada

The Law and Business Administration in Canada


Edition: 14th
Authors:
Read 89 times
1 Reply
Replies
Answer verified by a subject expert
AlexStanfordAlexStanford
wrote...
#1
Top Poster
Posts: 734
Rep: 24 0
6 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

bigcaat Author
wrote...

6 years ago
Thanks for your help!!
erimis
wrote...

Yesterday
This helped my grade so much Perfect
klyn
wrote...

2 hours ago
Thanks
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1278 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Related Images
  
 313
  
 1115
  
 915
Your Opinion
Previous poll results: Do you believe in global warming?