Ree 4433 exam 2 - Study guides, Class notes & Summaries

(CH10) A person who is adjudicated insane Correct Answer-has no capacity to enter into a contract. (CH10) Harry offers in writing to sell Lynn Blackacre. Lynn accepts, thinking that the offer refers to Greenacre. In fact, Harry made the offer thinking that it referred to Greenacre. Either party may rescind the contract because Correct Answer-both parties had a mistaken belief about a material matter in the contract. (CH10) Pamela contracts with Bronwyn to build a house. Pamela specifies in...

Sam promises to buy Amy a steak if she agrees to meet him for dinner after work. Amy agrees. Sam shows up, but Amy does not. Correct Answer-Amy does not need to show up, this is a social arrangements which normally do not create the expectation/reliance that commercial agreements do Barb wanted to purchase 3 lots in San Rafael and build homes on those lots. She contacted Vera, a RE broker. Vera agreed to represent Barb regarding the purchase, in return Barb agreed to build a speculative home ...

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REE 4433 Exam 2 Study Set Legal Environment of Real E

REE 4433 Exam 2 (Bailey) with case studies version

REE 4433 EXAM 2 John assigned his right to receive a deed from Trudy to Hannah. Contracts assigning deeds are unenforceable. John is relieved from making payment to Trudy. Hannah will be entitled to the deed. John is an assignee. - Answer-Hannah will be entitled to the deed. Harry offers in writing to sell Lynn Blackacre. Lynn accepts, thinking that the offer refers to Greenacre. In fact, Harry made the offer thinking that it referred to Greenacre. Either party may rescind the cont...