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Business & Marketing
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Essay
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English (U.S.)
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Topic:
Business law: Can the contract for sale be canceled because of fraud
Essay Instructions:
Please read the following fact patterns and address all four of the questions. Only discuss relevant issues! I am not as interested in your outcome (who will end up winning) as I am in how you use the law to support your points. Base your answer only on facts given. If additional information is needed, tell me that. Your answers should be about 250 words and are due by December 7.
Peter, while trying to sell his house to Jasper, was asked if he had ever seen or suspected termites in the house. Peter replied that he had not, and that the house was sound. Several months after Jasper had purchased the house, she learned from neighbors that Peter had paid for soil treatment to eliminate termites.
a. Can the contract for sale be canceled because of fraud?
b. Was there a misstatement of a material fact?
c. Did Jasper suffer a loss as a result of Peter's actions?
d. Can Jasper sue for damages?
Essay Sample Content Preview:
BUSINESS LAW
(Your Name)
(Class)
(Instructor’s Name)
(Institution/University, Date)
Business Law
Can the contract for sale be canceled because of fraud?
According to fraud legal definition peter did a fraud by false presentation of matter of fact concerning having admitted that he has never seen or suspected termites in the house. He did actually conceal some of the information which Jasper needed to make her decision on buying the house. The contract can be canceled because defendant provided false statement and knew it was untrue with intent of convincing her buy the house.
Was there a misstatement of a material fact?
Yes there was misstatement of materials fact because he gave out a false statement of the materials fact and the statement did relate to the fact. Peter was to respond on either seeing or suspecting termite. If he in did delivered treated soil then he either had seen termite or had suspected that’s why he was preventing it.
Did Jasper suffer a loss as a result of Peter’s actions?
Jasper did suffer loss because he was deceived by the statement made by peter that the house had never been i...
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