Week 5: Case Study Problem #5.1 – Cheap Research Essays

Week 5: Case Study Problem #5.1
I. Sandra, a very experienced horse owner and trainer, went to Kyle’s ranch to purchase a horse. She had owned several horses in the past that won major races around the country. She had trained and run horses that finished 5th in a Kentucky Derby race and 4th in a Belmont Stakes race. After looking at all the horses at the ranch, Sandra found one that she felt would be a winning race horse. She examined the horse, but failed to notice some minor swelling around a joint on the right foreleg. Kyle told her that the horse was a strong, healthy animal and a good runner. Sandra bought the horse and began training it at her stable. She soon noticed, however, that the horse seemed to be in a bit of pain as the distances increased each day of its training. Upon further examination and consultation with her veterinarian, she learned that the horse had arthritis in the right foreleg. Sandra sued Kyle to have the contract rescinded, claiming it was a fraudulent transaction.

(1) What are the necessary elements for a contract fraud case?
(2) Should Sandra win this case? Why or why not?

Case Study 2 Discussion Board
II. Ralph, age 17, contracted with Big Box Electronics to buy an 55″ Ultra HD TV. The contract called for Ralph to pay a $250 deposit and then 24 monthly installments of $50 each. Ralph paid the deposit, signed all of the necessary paperwork presented by the store, and departed with the TV set. Before receiving the first monthly payment, however, the owner of the store (Mike) was talking with one of his employees, a DeSales business law student, who told him about the incapacity of minors to contract. Mike immediately called Ralph and asked him to return the TV set. The owner promised Ralph he would return his deposit money to him and void the contract so that Ralph would have no further payment obligations. Mike was worried that Ralph might try to get out of the contract since he was 17 years old at the time of the agreement. Ralph, however, refused to return the TV and went ahead and mailed in his first monthly payment.