Fynn enters into a contract to sell Toby his 1999 Commodore for $3,000. During negotiations leading...

70.2K

Verified Solution

Question

General Management

Fynn enters into a contract to sell Toby his 1999 Commodorefor $3,000. During negotiations leading up to the contract Fynnassured Toby that there was no rust in the car.
Examine the following three situations and:
• state whether Fynn’s statement about rust is a term ofthe contract or a representation (just write term orrepresentation) and
• state the rule and the case that best support yourdecision.
1. Where three weeks pass before Toby accepts Fynn’soffer.
2. Where Fynn and Toby write down all the things they haveagreed to (including the no-rust assurance) on a sheet of paperthat neither sign.

Answer & Explanation Solved by verified expert

4.1 Ratings (857 Votes)

This is Representation Rule and Case Thus in this scenario the rust statement looks to be the representation and not contract item because this is the outcome of the negotiation and it is not mentioned in the contract terms and conditions The definition for both term are as below Term of Contract The terms of contracts are the thing agreed and written as the part of the 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