Question

In: Operations Management

6. Cathy was primary student. She bought a bracelet online as her mother’s birthday present. Cathy...

6. Cathy was primary student. She bought a bracelet online as her mother’s birthday present. Cathy used her father’s personal data and credit card information for the payment. The bracelet seller emailed his acceptance of the order to Cathy. Finally, Cathy’s father want to refuse the payment.
Does Cathy’s father claim it is a voidable contract between Cathy and the bracelet seller? Please explain.


7. Mr Shek had a flat to sell and he places an advertisement in the newspaper with a price stated. Mrs Leung called Mr Shek that she was interested to visit him next day. Finally, Mrs Leung was interested to buy the flat with the said price.
Who is the offeror? Who is the offeree?

8. Explain the following terms implied by Common Law with examples.
a. hire-purchase agreement
b. employment contracts
c. landlord & tenant
d. banker/customer relationship
9. Please explain the types of damages claimed by the innocent party under the common law.

10. Alan agrees to sell a piece of land Kim, who agrees to buy to erect a new habitation. Kim regrets and breach the contract.
a. Please explain the term of specific performance
b. Discuss whether Alan can sue Kim for specific performance in his cases?


11. A house owner enters into a contract with a renovation company to renovate his
house. Work commences but when the renovations are partially complete, the owner locks up the house and goes away without a word to the builder. Is it possible for the renovation company to bring the case to the court? If yes, what kinds of damages can be recovered for breach of contract?

Solutions

Expert Solution

6. As Cathy's father was not aware that her daughter is purchasing that bracelet for a mother by his card and the payment has been done to the seller is not the mistake of the seller also because the payment has been turned to him and he is bringing the bracelet but now as his father has realised the thing it can be categorised under voidable contract because it comes under non disclosure of material facts, it was mutual mistake and lack of knowledge or you can say that free will of her father and the contracting party came under the influence of the other.

7.Here Mr shek is the offeror and Mrs Leung is the offeree. offerer means a person who is offering something to you that means he is providing you your Mr shek is offering the flat and is selling the flat. Offeree who is is accepting the thing for some material object so here Mrs Leung is ready to purchase the flat that means is accepting that's why she is offeree.


Related Solutions

Mrs. Smith is approaching her 80th birthday. She is adamant about her health including her healthy...
Mrs. Smith is approaching her 80th birthday. She is adamant about her health including her healthy bones, so she’s been taking calcium supplements for over 40 years. Should she consume her calcium supplements with meals or between meals? Explain your answer. What other nutrients should Mrs. Smith be careful about?
Question 1 (Main question is question2) Cathy is bullish on Tencent; so she instructs her broker...
Question 1 (Main question is question2) Cathy is bullish on Tencent; so she instructs her broker to sell 15/7/2020 European 500 put options on Tencent with an exercise price of $400 each share. Sandy agrees to buy these options and pays the premium of $7 each option. Without taking any transaction costs into consideration, what will be Sandy’s gain or loss if Tencent’s price is $385 each share on 15/7/2020?    what would be Cathy’s potential maximum loss on 15/7/2020?...
Linda Clark received $210,000 from her mother’s estate. She placed the funds into the hands of...
Linda Clark received $210,000 from her mother’s estate. She placed the funds into the hands of a broker, who purchased the following securities on Linda’s behalf: a. Common stock was purchased at a cost of $91,000. The stock paid no dividends, but it was sold for $160,000 at the end of three years. b. Preferred stock was purchased at its par value of $46,000. The stock paid a 4% dividend (based on par value) each year for three years. At...
Linda Clark received $223,000 from her mother’s estate. She placed the funds into the hands of...
Linda Clark received $223,000 from her mother’s estate. She placed the funds into the hands of a broker, who purchased the following securities on Linda’s behalf: a. Common stock was purchased at a cost of $99,000. The stock paid no dividends, but it was sold for $161,000 at the end of three years. b. Preferred stock was purchased at its par value of $54,000. The stock paid a 6% dividend (based on par value) each year for three years. At...
Linda Clark received $236,000 from her mother’s estate. She placed the funds into the hands of...
Linda Clark received $236,000 from her mother’s estate. She placed the funds into the hands of a broker, who purchased the following securities on Linda’s behalf: a. Common stock was purchased at a cost of $100,000. The stock paid no dividends, but it was sold for $171,000 at the end of three years. b. Preferred stock was purchased at its par value of $55,000. The stock paid a 7% dividend (based on par value) each year for three years. At...
Linda Clark received $170,000 from her mother’s estate. She placed the funds into the hands of...
Linda Clark received $170,000 from her mother’s estate. She placed the funds into the hands of a broker, who purchased the following securities on Linda’s behalf a. Common stock was purchased at a cost of $91,000. The stock paid no dividends, but it was sold for $160,000 at the end of three years. b. Preferred stock was purchased at its par value of $46,000. The stock paid a 4% dividend (based on par value) each year for three years. At...
Linda Clark received $236,000 from her mother’s estate. She placed the funds into the hands of...
Linda Clark received $236,000 from her mother’s estate. She placed the funds into the hands of a broker, who purchased the following securities on Linda’s behalf: a. Common stock was purchased at a cost of $100,000. The stock paid no dividends, but it was sold for $171,000 at the end of three years. b. Preferred stock was purchased at its par value of $55,000. The stock paid a 7% dividend (based on par value) each year for three years. At...
Mary Jo lost her partner of 47 years about 6 months ago. She was Jim’s primary...
Mary Jo lost her partner of 47 years about 6 months ago. She was Jim’s primary caregiver over the course of his cancer treatment that lasted 2 years. For the last month of his life, Jim and Mary Jo were able to receive assistance from hospice services, for which Mary Jo was extremely grateful because this allowed her to keep Jim at home, which is where he wanted to spend his last days of life. Since Jim’s death, Mary Jo...
Uma turned 25 today, that she plans to retire on her 65 th birthday , and...
Uma turned 25 today, that she plans to retire on her 65 th birthday , and that s he expects to live until her 8 0 th birthday . On her 65th birthday, she wants $ 90,000 and wants that amount to increase by 2 % every year until h er 80th birthday. In other words, she wants to make a withdrawal from her 65th birthday until her 80 th ( including her 80th birthday ). So far, she has...
Shelli graduates from the University of South next month on her 25th birthday, and she is...
Shelli graduates from the University of South next month on her 25th birthday, and she is excited to begin her new career. Because she wants to have a comfortable living when she retires, Shelli has decided to begin planning for her retirement now. As a result, she is currently evaluating the amount she needs to contribute to a retirement fund satisfy her financial requirements at retirement. After speaking to retired friends and relatives, Shelli estimates she will need $60,000 each...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT