business law questions

timer Asked: Jan 20th, 2015

Question description

1.  Steve buys a house from Jim. There is no written contract. However, Steve pays the
purchase price, moves onto the property, and begins to build a new garage. Jim
seeks to evict Steve from the property stating that there was never a valid
contract. Is Jim likely to succeed? Why or why not?

2.  Tony contracts with Paulie for Paulie to build him a house. They contract for a
particular brand of pipes to be used. However, Paulie decides to use a slightly
cheaper brand that is of a slightly lesser quality. Tony claims that this
breach of the contract allows him to avoid the contract. Is he correct?

3.  Frida agrees to sell a car to Johnny for $900. However, Johnny reneges on the written
contract. Frida is able to find another buyer for the car at $700. What damages
may she recover from Johnny?

4.  What are the three main types of warranties under Article 2 of the UCC and how are
they created?

5.  What kind of contracts are covered by Article 2 of the Uniform Commercial Code?


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