University of Nevada Las Vegas Business Law Discussion

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Business Finance

University of Nevada Las Vegas

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You can read and answer some problems here.

1. Rules. of Interpretation

Gus contracts to buy a used car from Cars Galore Inc. The printed contract specifies "no warranties." But Gus and the sales manager of Cars handwrite into the contract a 90-day guarantee on the transmission. If the transmission fails after 60 days, is there a warranty protecting Gus? Explain.

7. Impossibility for Nonperformance

To be a legitimate excuse for nonperformance, impossibility must be real and absolute. What are three examples of factual situations involving real impossibility of performance?

8. Commercial Impracticability

A tripling of prices by an illegal cartel of uranium producers caused Westinghouse Electric Corp. to default on uranium delivery contracts to a number of utility companies. The companies sued and Westinghouse settled. If the case had gone to trial, what defense might Westinghouse have raised to excuse its nonperformance under the contracts?

10. Damages and Equitable Remedies

(a) How are damages different than equitable remedies?

(b) If David breaches his agreement to pay $5000 to Laura for her car, and she later sells the car to Ellysa for $4000, what is the measure of Laura's damages from David's breach?

(c) Explain one's duty to mitigate contract damages.

(d) If Olaf breaches his obligation to deliver a new car to Lisa, is it likely that a court will require Olaf to deliver the car through the remedy of specific performance?

12. Beneficiaries

What is the distinction between an intended and an incidental beneficiary?

13. Assignment and Delegation in Contracts

(a) Franchetti Rifle Distributors assigns a $20,000 claim against Top Gun Inc. to the Zenith Collection Agency. When Zenith sues Top Gun, Top Gun asserts that if rejected a shipment of rifles from Franchetti out of which the claim arose because they had defective trigger guards. Explain whether Top Gun can properly assert its defense against plaintiff Zenith.

(b) If Peter moves out of his apartment and delegates his duty to pay rent to a new sublessee, Jenny, will Peter still be obligated to pay if Jenny breaches?

14. Novations

Explain the purpose of a novation and who must be party to it.



Explanation & Answer:
2 pages
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Explanation & Answer

Attached.

Running Head: BUSINESS LAW

1

Business Law

Student’s Name
Course
Institution
Date

BUSINESS LAW

2

Question 1. Rules of Interpretation
Rule of interpretation is defined as a legal task that provides meaning to a legal document
(Subodh,2019). Based on the transaction between Gus contractors and Cars Galore Inc., the
printed contract specifies that there are no warranties. Despite the sales manager, including the
90-day guarantee on transmission, if the transmission failed after sixty days, there will be no
warranty protecting Gus. The reason is, the car belongs to Cars Galore Inc. and not the manager;
hence no warranties allowed.
Question 7. Impossibility for Nonperformance
Impossibility of nonperformance is defined as an excuse for the inability to perform
duties as agreed in a contract due to change in situations after a contract is signed hence making
the agreement impossible. Examples of factual cases involving real impossibility of
nonperformance include: Firstly if a condition happens that makes it difficult for the deal to be
accomplished. Secondly, if the intended performance will be done at a high and unreasonable
cost. Lastly, if the change of circumstance makes the expected performance impossible.
Question 8. Commercial Impracticability
Commercial impracticability is a result of something occurring that makes the
performance of duties in a contract highly burdensome, highly expensive and unbearable for
party obliged to that perf...


Anonymous
I was struggling with this subject, and this helped me a ton!

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