harry and tom breach of contract tom key points brief: harry and tom train collector friends tom...
TRANSCRIPT
Harry and Tom Breach of ContractHarry and Tom Breach of Contract
• Tom key points brief:
• Harry and Tom train collector friends
• Tom promised Harry he would be the one to buy his train collection
• Tom retires and sells train collection to David
• Tom is sued by Harry for breach of contract
• Harry case points brief:
• Harry was promised a train collection
• Harry barrowed money to buy collection
• Harry spent money and time building a room
• Harry sues Tom for promissory stopple
Harry and Tom (Breach of Contract) Harry and Tom (Breach of Contract)
• Case Verdict: Who wins?
• In order to argue breach of contract you need a valid written contract.
• The statement was made more then a year ago and under the statue of fraud, you must convert an oral statement/contract into a written contract or its not valid.
Harry and Tom (Promissory Estoppels)Harry and Tom (Promissory Estoppels)
• Harry can argue quasi-contract
• Tom didn’t withdrawal/revoked his offer after knowing Harry was barrowing funds
• However what reasonable person builds such a large room before actually buying the trains
–Tom wins
Grocery, Inc (Jason Grocery, Inc (Jason
• Case Brief:• Jason ships peaches from
his orchard to Grocery Inc• Shipped peaches using an
independent contractor• Truck brakes down and
shipment is 3 days late• Shipment is damaged
• Case brief:• Contract terms are F.O.B
Free on Board
Grocery, Inc (Jason) VerdictGrocery, Inc (Jason) Verdict
• Case Verdict: Who bears the risk?
QUESTIONS?QUESTIONS?
REFERENCES:http://definitions.uslegal.com/c/contracts-fobMelvin, S. (2012). The legal environment of business: A managerial approach. 1 ed., . New York, New York: McGraw-Hill/Irwin.