business law questions
a)Steve buys a house from Jim. There is no written contract. However, Steve pays the
purchase price, moves onto the property, and begins to build a new garage. Jim
seeks to evict Steve from the property stating that there was never a valid
contract. Is Jim likely to succeed? Why or why not?
b)Tony contracts with Paulie for Paulie to build him a house. They contract for a
particular brand of pipes to be used. However, Paulie decides to use a slightly
cheaper brand that is of a slightly lesser quality. Tony claims that this
breach of the contract allows him to avoid the contract. Is he correct?
c) Frida agrees to sell a car to Johnny for $900. However, Johnny reneges on the written
contract. Frida is able to find another buyer for the car at $700. What damages
may she recover from Johnny?
d?What are the three main types of warranties under Article 2 of the UCC and how are
they created?
e) What kind of contracts are covered by Article 2 of the Uniform Commercial Code?
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Jim is not likely to succeed because real estate contracts must be in writing to be enforceable by courts. Historically, the courts need evidence of the transactions and this can only be proved by a written contract. Thus the oral agreement between…
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