Business Law Essay Example | Topics and Well Written Essays - 1000 words

Business Law - Essay Example If he paid then it was a promise in this circumstances, Watson can recover the extra cost of USD 5000 from Holmes more over for the delay he can recover the actual loss of rent depending on the time extra taken. 3) Misrepresentation as to quality and specification comes either under consumer law if the amplifier for personal use and under MRTP Act if used for public use so the recovery is depending on the decision of adopting the use if Eric keeps the amplifier, he is liable to pay for its market cost of 200$ then he can recover the money he paid extra and compensation for the damage. 4) No, the doctor is not liable to recover the $3000. He is hit by the principle of estopel. The law of Estoppels means that the 'agent' had no power at all to perform the principal is simply excluded from denying that authority existed. 5) Here we can see the ACT of god. Acme has defense of unforeseen government regulation. He can’t be sued for damages but Bob can recover the balance amount due if he already paid if not paid, Acme can’t really recover anything. 6) An oral agreement is enforceable unless its subject comes in the act of frauds, an English Law adopted in the US that needs certain contracts to be in writing. And also in US an agreement to sell real land, property or house to be enforceable, should be in writing to comply with the law. Here there is only a oral agreement between the two parties to the contact so if the Ernie sues for the damage Bert is not liable to pay the same. â€Å"An oral contract to sell Personal Property for an amount less than that set in the statute does not fall within its limits and, therefore, is enforceable without being reduced to writing. The Uniform Commercial Code governs the enforceability of oral contracts in sales transactions involving merchant† (Oral Contract para. 1). 7) In this case suit filed by the Floid for breach of contract is maintainable. And also the other party is liable pay the compensation. But t he same time suit filed by Goober is not maintainable. Because stranger to a contract cannot sue. 8) Yes, Crosby can sue Hope for the breach of contact. In this case there is a bilateral contract between the parties to the contact. That is between Hope and Crosby. Later Hope breaches the contact so the agreement such agreement is not enforceable by law. And also Hope is liable to pay for the damage. 9). If Ace brings suit against Flo such suit is maintainable under law. Here the contact is between Ace and Flo for the $8,000 for a car. But Flo gives a worthless check for that cash. If the suit is filed against Flo he is liable for the breach of contact. Ace is the third party and also the agreement between the Flo and Eb is different from the first agreement. 10). Here in this case there is a mutual agreement between Sam and Bob is for selling of sheet metal in monthly installments over a two year period, Payment is to be made within 10 days after each delivery. If the Bob is failure to give the payment for the already sold goods then he is liable to pay the same for the breach of agreement. Bob counterclaimed for damages arising out of Sam's failure to deliver the remaining installments under the contract is also maintainable because there is an agreement over a two year period. But after the period of 2 years Sam is not liable for the same. 11) Lucy is not liable to pay $16 to the Ethel. Here the actual terms of the agreement is for babysit for $4 for each half hour it does not including cleaning and ironing. 12) In this