Jing, another of your clients, shares with you that his elderly parents who migrated from China...

Jing, another of your clients, shares with you that his elderly parents who migrated from China recently and have little English language skills borrowed money from the Super Money Lenders Pty Ltd without his knowledge. Jing thinks that Super Money Lenders has charged an exceptionally high interest on the loan and some terms are very unfair. Jing wants to know if the loan contract be avoided.

Explain the most appropriate principle of contract law that Jing’s parents may rely on to challenge the validity of the loan contract? You are not expected to refer to any statutory law (legislation) in your answer.

Solutions

Expert Solution

ekkarill92 answered 1 year ago

Next > < Previous

Related Solutions

The issue of who takes care of the elderly parents is modeled as a game of...

The issue of who takes care of the elderly parents is modeled as a game of chicken with asymmetrical preferences as follows; Table 1 Husband Wife Take care Don’t take care Take care 2,2 1,3 Don’t take care 3,1 0,0 Table 1 - who should care for the elderly parents as a chicken game? For each player it is best to do the opposite of what the other player does, and there is no obviously dominant outcome. a. Identify...

Kevin is a 6-year-old boy who is brought in for evaluation by his parents. The parents...

Kevin is a 6-year-old boy who is brought in for evaluation by his parents. The parents are concerned that he has a really deep cough that he just can’t seem to get over. The history reveals that he was in his usual state of good health until approximately 1 week ago when he developed a profound cough. His parents say that it is deep and sounds like he is barking. He coughs so hard that sometimes he actually vomits. The...

TP acquired a tract of land by way of gift from his parents. His parents purchased...

TP acquired a tract of land by way of gift from his parents. His parents purchased the land in 1980 for $100,000, and gifted it to him in 2010 when it had a fair market value of $500,000. In 2012, TP built a 5 unit apartment building on the land at a cost of $500,000. Accumulated depreciation to date totals $40,000. TP has an agreement to sell the real estate for an adjusted sales price of $1,500,000. He intends to...

Chris acquired a tract of land by way of gift from his parents. His parents purchased...

Chris acquired a tract of land by way of gift from his parents. His parents purchased the land in 1980 for $100,000, and gifted it to him in 2010 when it had a fair market value of $500,000. In 2012, Chris built a 5 unit apartment building on the land at a cost of $500,000. Accumulated depreciation to date totals $40,000. Chris has an agreement to sell the real estate for an adjusted sales price of $1,500,000. He intends to...

Pedro is a college student who receives a monthly stipend from his parents of $1,000. He...

Pedro is a college student who receives a monthly stipend from his parents of $1,000. He uses this stipend to pay rent for housing and to go to the movies (you can assume that all of Pedro’s other expenses, such as food and clothing have already been paid for). In the town where Pedro goes to college, each square foot of rental housing costs $2 per month. The price of a movie ticket is $10 per ticket. Let xdenote the...

You are now a certified financial planner who has recently graduated from college. Your parents are...

You are now a certified financial planner who has recently graduated from college. Your parents are helping you to get started in your new business. Since your parents own a midsize company, they decide that IF you can come up with a good retirement plan for the 275 employees that they employ, they will hire you as the financial planner for the business. They want to make sure that all the employees in the company have some medical benefits as...

3. CF comes to see you and talk about his elderly grandmother, KF, who is 89...

3. CF comes to see you and talk about his elderly grandmother, KF, who is 89 years of age. She is not as responsive as she used to be. When he went to see her, he could tell she was forgetting to take her medications and noticed that her tremor had increased. He asks you if it is time for KF to stop driving. Discussion Questions: 1. Discuss the changes in the brain with aging: 2. Explain why her tremors...

Suppose you borrow money from your parents for college tuition on January 1, 2015. Your parents...

Suppose you borrow money from your parents for college tuition on January 1, 2015. Your parents require four annual payments of $40,000 each, with the first payment due on January 1, 2019. They are charging you 8% annual interest. What is the cost of the college tuition?

Suppose you borrow money from your parents for college tuition on January 1, 2015. Your parents...

Suppose you borrow money from your parents for college tuition on January 1, 2015. Your parents require four annual payments of $30,000 each, with the first payment due on January 1, 2019. They are charging you 4% annual interest. What is the cost of the college tuition? A. $113,253 B. $96,809 C. $120,000 D. $89,707

1-) The nurse has taken a nutritional history from parents of clients. It would be a...

1-) The nurse has taken a nutritional history from parents of clients. It would be a priority for the nurse t follow up with the a) 5-month-old client whose only source of nutrition is 5 formula feeding daily b) 7-month-old client who eats several crackers as finger food c) 9-month-old client whose typical daily diet includes 10 bottles of 2% milk, 1 cup of apple juice and 3 serving of infant cereal d) 1-year-old client whose typical food intake includes...

Subjects