Posted: September 26th, 2022

Contract law

Memo
To:
FROM:
RE:
DATE:
ISSUE PRESENTED
The seller who is Sally Naive wants to sell her 1968 Chevy C-10 pickup. She put a sign on the window that read the amount she wants. The car is going for $12,300. On the traffic, as Sally is driving her car, she notices a man. The man’s name is Bud Slick. He pulls up next to her. He asks sally to pull up into the parking lot right ahead of them. He says that he had the full amount to purchase sally’s vehicle. The amount was in cash form. Sally agrees to pull over to talk with Bud Slick. At this time, sally is still in shock because the offer seems too good to be true. Sally addresses Bud skeptically so concerned about him having the money in cash. The man explains that he is a truck collector and that he had sold an El Camino that morning.
The buyer of the El Camino had paid in cash, and that’s the reason his trailer was empty. Sally, still so skeptical, asks Bud why he is in a hurry to buy her vehicle. Bud says that he can’t wait because he knows a good deal when he sees one. Sally asks him to give her a lift home for her to sigh the tile. Her next-door neighbor will notarize the signature. Bud loads SALLY’S vehicle onto his trailer and gives her a ride. On the way, they discuss the value of the track, and Bud says that he will sell the Chevy at $28000 after its refurbished. Sally gets so surprised and puts the deal on ice until when she talks to her lawyer.
Facts
A contract of sale involves the agreement to sell and as a sale. In a deal, there are deeming provisions. Examples are, something is considered to be done in good faith when there is a fact that proves it was done honestly, whether done negligently or not. A person is deemed to be insolvent when he ceases to pay debts in an ordinary business course or when the obligations become due (Smits, Jan, ed.). Goods are in a deliverable state when they are in a condition which a buyer wants, under the agreed contract, bound to take them for delivery.
A contract of sale could be absolute or conditional. The buying and selling capacity is regulated by the general law that concerns contract capacity and to transfer and acquire property, depending on where necessaries are sold and delivered (Sale of Goods Act). It also depends on whether it is being given to either an infant or a minor. Other cases are when dealing with a mentally disabled person. These are considered to be incompetent to contract. A contract of sale should be in the form of writing, by word of mouth, or both. There is a case where there is an unconditional contract for the purchase of specific goods. The assets pass to the buyer after the agreement is made. It is immaterial whether the time of delivery or payment is postponed.
Another situation is where a seller is supposed to refurbish the goods before the sale. The products don’t pass until refurbishing is done, and the buyer is notified. There is a case where goods are delivered to the buyer after being approved. The buyer must have agreed or accepted them through a transaction. Depending on the contract, the seller delivers the goods to the buyer. When he or she does not reserve the right to disposal, the seller is therefore deemed to have appropriated the goods unconditionally to the contract. The products are usually at the seller’s risk if they have not yet been transferred to the buyer. When the property is already assigned to the buyer, the goods then become at the owner’s risk. That depends on whether before or after delivery. There is a case where the buyer of property becomes insolvent. The unpaid seller who, in this case, has already parted ways with the property, has the right to stop the property from being sold.
Remedies of the seller
In regards to a contract sale, there could be a case where the property has been passed to the buyer, and the buyer refuses to pay for the property. The seller is supposed to maintain an action against him for the price agreed on the property. Irrespective of the delivery, a buyer can refuse to pay for the property at the agreed time. The seller maintains an action for the price. That is despite the property being passed and the goods not appropriated to the contract. Where the seller wrongfully neglects to deliver the goods, the buyer may take action against the seller for damages for non-delivery. The seller is said to have breached the contract.
Discussion
In the case of Sally and Bud, sally already agrees with selling her vehicle to Bud. She even allows him to load her car onto his truck and asks for a ride to her house where she could sign the agreement. After Bud says that he would sell the refurbished car at a price way high than how she was selling it to him, she freezes the transaction. The law states that if the buyer does not accept the good in the form of money transaction in whichever way, it remains to be under the custody of the seller. Sally had the right to freeze the deal. However, sally has no right to change the price agreed for her vehicle when selling it to Bud since the transaction was already in progress. She is only allowed to do so if selling it to a new buyer under new terms and conditions.

References
“Sample Memo.” CUNY School of Law, 7 Jan. 2019, www.law.cuny.edu/legal- writing/students/memorandum/memorandum-3/.
Smits, Jan M., ed. Contract law: a comparative introduction. Edward Elgar Publishing, 2017.
“Sale of Goods Act.” Nova Scotia Legislature, nslegislature.ca/sites/default/files/legc/statutes/salegood.htm.

Order | Check Discount

Tags: 150-200 words discussion with a scholarly reference, 200-300 words response to classmate discussion question, 250 word analysis essay, bachelor of nursing assignments, case study