Business Law Cases
About a page and a half to two pages for each question please!
Rico Salo was a real estate agent working for Matrix Real Estate Ltd. His sister in law Paula was looking for some income property, and after some searching, Salo entered into a deal with Mr. and Mrs. Dillon, persuading them to list their property for sale with him and subsequently presented an offer to purchase from his sister in law, who used her maiden name (P.Richards) so that the sellers would not know that he was related to the purchaser. Before the deal was to close, the Dillons discovered the relationship between the agent and the purchaser and refused to go through with the deal. Salo sued for his commission and his sister in law sued for specific performance.
What are the facts? Explain the arguments that are available to the sellers in response to these claims. How would your answer be affected by the knowledge that the sister in law of Salo had disclosed to him that she was willing to pay between $250,000 and $300,000 for the property, and in negotiations that followed this was not disclosed to the sellers? In fact, the first offer made by his sister in law, was only $270,000. The sellers eventually took $285,000 not knowing that the purchaser was willing to go to $300,000. The actual fair market value of the property was determined to be $285,000.
Mr. Smith bought a new pick-up truck for his landscaping business from Universal Motors, an automobile dealership specializing in trucks. Unfortunately, while there were no major defects with the truck, a number of small things kept going wrong, including wheel alignment, faulty wiring and a leaky exhaust system. In addition the truck tended to stall in heavy traffic. During the summer Mr. Smith had the truck repaired nine times. These small annoyances continued and finally, in disgust, he returned the truck to Universal Motors. However, Mr. Staples the manager, pointed out to Mr. Smith that their contract contained a very extensive exemption clause excluding “all conditions or warranties, express or implied, statutory or otherwise,” and refused to accept the truck back or to return Mr. Smith’s money. Mr. Smith commenced legal action.
What are the facts in this case?
What can Mr. Smith argue? What can Universal Motors Argue?
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