Posted: November 3rd, 2017
Explain the common law mirror image rule and whether it applies to merchants. Explain your answer.
Allison offers to give her granddaughter her home if her granddaughter will act as executor to her will. At her death, the granddaughter acts as executor of the will. Has a valid contract been formed? Please answer this question under classical contract theory (worth 3 points), Restatement (Second) of Contracts §45 (worth three points) and Restatement (Second) of Contracts §87(2)(worth 3 points)? Explain each of your answers. (Hint: Remember the granddaughter cannot act as the executor until the Allison dies).
- 2 Explain the common law mirror image rule and whether it applies to merchants. Explain your answer.
- 3.Jonathon and Avery enter into the following contract: Jonathon promises to pay Avery 0 to paint his porch. Avery accepted the offer. After doing half of the work, Avery figures out that the materials cost her more than she thought that they would. She wants to modify her contract so that Jonathon will pay her $600.00. Please draft an enforceable modification. To draft an enforceable contract look in your Module for an example of a modification agreement. You must use the example in the Module or points will be deducted. Also, make sure you go beyond the facts to make it enforceable. In other words, make sure you create facts and add language of those facts to the contract that creates an enforceable modification. You will receive a deduction if you do not add the necessary facts and if you do not use the example from your Module readings to draft the contract. Using the correct format is worth 4 points and adding the correct language to the contract is worth 5 points.
- 4. How can a party rescind a contract that has not been fully performed by either party?