In selling a 300-acre farm to Rural Land Investments,Inc.,Simone tells Rural's representative that the land "will be worth twice as much by next year." This is A)adhesion. B)fraud. C)mistake. D)opinion.
Carlos and Alvaro contract for the sale of five hundred head of Carlos's cattle for $95 per head. Unknown to either party,an unforeseen storm has struck the herd and many of the cattle have died. Alvaro is A)entitled to recover the value of the lost cattle. B)not required to pay due to the mutual mistake. C)not required to pay due to the unilateral mistake. D)required to pay because he assumed the risk the cattle might die.
At an auction for the first time,Darcy bids on a one-hundred-year-old Edison-brand phonograph,believing that it is worth more than the price asked. When the item proves to be less valuable,Darcy is A)liable on the bid. B)not liable on the bid because Darcy overestimated the value of the item. C)not liable on the bid because the auctioneer overstated the value of the item. D)not liable on the bid because this was Darcy's first auction
Dwight believes that a new phone to be sold by Ear Candy Corporation will become the most widely bought and used phone in the global market. Dwight enters into a contract to buy 500 shares of Ear Candy stock,anticipating an increase in its value. If the price of the stock does not rise,Dwight can recover A)nothing. B)the amount of the purchase price. C)the amount of the purchase price plus the expected increase. D)the amount of the purchase price plus the unexpected decrease.