I’m working on a Business Law question and need guidance to help me study.
Answer the following questions based upon your assigned readings and class materials. PLEASE CITE YOUR SOURCES (including the text and slides). Please be advised that by relying on material outside the course may give information that is not as discussed or presented in class and will not provide additional credit.
Your answers must be in complete sentences and free of typographical errors.
Your writing assignment must be saved as either a WORD document or a PDF, with double spaced, 1” margins. The assignment must be well written and professional in appearance.
1. Jacob has car insurance with Big Insurer. Jacob gets into a car accident with Selena. The adjuster for Big Insurer orally agrees to pay Selena $1,000 for the damage to her car. The adjuster, however, gets in trouble with his boss for agreeing to pay too much. The adjuster tells Selena that he is backing out of the deal because the agreement is unenforceable on the basis that the statute of frauds requires that a contract to pay the debt of another be in writing.
a. Please define the applicable rule and when it applies.
b. Is the adjuster correct? Why or why not?
2. Jason is excited because a developer plans to build a subdivision of full of high-priced homes that will adjoin his property. Jason believes that the subdivision will significantly increase the value of his property. Jason is so pleased that he puts in a new swimming pool to celebrate. However, the developer changes his mind and decides not to develop the subdivision. Jason is angry and asks if he can sue the developer, particularly since he can establish reliance through the installation of the swimming pool.
a. Can Jason sue the developer? Why or why not?
b. Please discuss whether or not you agree with the law on this issue and why or why not.
3. Courtney and Jonathan agreed that Jonathan would paint Courtney’s home for $800 with Courtney supplying the paint. Jonathan went to Courtney’s home on several occasions to paint the house, but she never had the paint. Finally, Jonathan moved on to other jobs. Six months later, Courtney sued Jonathan for not painting her home.
a. What will Jonathan assert as his defense and please provide its definition?
b. In your opinion, will Jonathan be successful with his defense? Why or why not?
4. Define anticipatory repudiation of a contract, and please explain the rights of a promisee (nonbreaching party) when faced with anticipatory repudiation.
5. Maurice is purchasing a bowling alley called Stay in Your Lane from Vlad. Maurice and Vlad sign a covenant not to compete prohibiting Vlad from opening a bowling alley within 25 miles of Stay in Your Lane for one year.
a. What is the rule for a convent not to compete?
b. Assuming that the covenant was drafted properly, is it likely to be enforced, and why or why not?