Analyze the following three situations: Aaron offers to sell hishouse in Chicago to Brian...

80.2K

Verified Solution

Question

Accounting

Analyze the following three situations: Aaron offers to sell hishouse in Chicago to Brian for $500,000. Unknown to Aaron, Aaron’suncle has died and left him a house in Chicago worth $5 million.Brian hears of the uncle’s death, agrees to the offer, and thensues Aaron to have Aaron convey the more expensive property. Isthere a contract? Support your answer Every year the MuscularDystrophy Foundation has a telethon to raise money. In the heat ofthe moment, Veronica calls in a pledge of $250. When the charitymoves to collect the money, Veronica says she has changed her mind.The foundation sues Veronica to redeem the pledge. Will thefoundation be successful? Support your answer Bess is 80 years oldand takes mediation whenever she has a heart palpitation. As a sideeffect of the drug, Bess becomes dizzy and disoriented. During theperiod of disorientation, an encyclopedia sales-person rings Bess’sdoorbell and convinces her to buy a set of encyclopedias. The nextday, when the effect of the medicine wears off, Bess realizes whatshe has signed. Can Bess disaffirm the contract? Support youranswer

Answer & Explanation Solved by verified expert

4.2 Ratings (892 Votes)

In 1 case there is no contract only mutual acceptance is here And no tranfert is taken place as per information So aron can refuse to If transfer of property and consideration in amount is taken place then aron can sue only in case of contract For contract it should be in written and consideration transfer of property take place In 2 case A charitable pledge is enforceable if it is a legally binding contract A legally See Answer

Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:

Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!

Become a Member

Transcribed Image Text

In: AccountingAnalyze the following three situations: Aaron offers to sell hishouse in Chicago to Brian for...Analyze the following three situations: Aaron offers to sell hishouse in Chicago to Brian for $500,000. Unknown to Aaron, Aaron’suncle has died and left him a house in Chicago worth $5 million.Brian hears of the uncle’s death, agrees to the offer, and thensues Aaron to have Aaron convey the more expensive property. Isthere a contract? Support your answer Every year the MuscularDystrophy Foundation has a telethon to raise money. In the heat ofthe moment, Veronica calls in a pledge of $250. When the charitymoves to collect the money, Veronica says she has changed her mind.The foundation sues Veronica to redeem the pledge. Will thefoundation be successful? Support your answer Bess is 80 years oldand takes mediation whenever she has a heart palpitation. As a sideeffect of the drug, Bess becomes dizzy and disoriented. During theperiod of disorientation, an encyclopedia sales-person rings Bess’sdoorbell and convinces her to buy a set of encyclopedias. The nextday, when the effect of the medicine wears off, Bess realizes whatshe has signed. Can Bess disaffirm the contract? Support youranswer