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Rick is very old and can no longer see well enough to read

Finance

Rick is very old and can no longer see well enough to read. His neighbor, Emmett approaches him with an offer to buy his car. He says that he will pay twice the value of the vehicle and presents Rick with a contract to sign. Emmett says, I know that you cannot read the contract, but you can trust me that all of the terms we discussed are in the agreement. Rick agrees and signs the contract. However, the contract did not deal with the sale of the car. It was a contract to sell Rick’s house at a very low price.

Question 12 options:

 

Non East Factum states that Rick will likely not be held to the contract.

 

Non Est Factum states that you must read the terms of the agreement and if you do not, you will always be bound to its terms.

 

This is Fraudulent Misrepresentation. It will not be binding

 

Undue Influence applies. It will not be binding.

 

This is an example of the need to read every contract. Rick signed the agreement and is bound to its terms.

Question 13 (1 point)

Rick is 28 years old and a new homeowner. He is looking to sell his car and tells his friends and neighbours that he is looking to sell the vehicle. His neighbor, Emmett approaches him with an offer to buy his car. He says that he will pay twice the value of the vehicle and presents Rick with a contract to sign. Emmett says, you can trust me that all of the terms we discussed are in the agreement. Rick agrees and signs the contract. However, the contract did not deal with the sale of the car. It was a contract to sell Rick’s house at a very low price.

Question 13 options:

 

This is Fraudulent Misrepresentation. It will not be binding.

 

This is an example of the need to read every contract. Rick signed the agreement and is bound to its terms.

 

Undue Influence applies. It will not be binding.

 

. Hyper est Dictum states that you must read the terms of the agreement and if you do not, you will always be bound to its terms.

 

Non East Factum states that Rick will likely not be held to the contract.

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 Ans : Non East Factum states that Rick will likely not be held to the contract.

Non East factum allows party to escape from performance of an agreement which is fundamentally different from what he or she intended to execute or sign. Claim of Non East factum is very difficult to achieve since mere carelessness or negligence on part of signer will not allow to claim it.

If signer is unable to understand purpose of particular document because of blindness, illiteracy or some other disability then one can claim Non East factum. Here Rick is old and is not able to see well and hence would be able to claim Non East factum

13) Ans) Hyper est Dictum states that you must read the terms of the agreement and if you do not, you will always be bound to its terms.

In this transaction one can see clear that there was negligence on part of signer and hence he will not be able to claim Non East factum and the terms will be binding on him