Asked by Bella Carranza on Jul 08, 2024
Verified
Jill contracts to purchase Kevin's automobile under the belief that she can sell it at a profit to Linda, but after Jill has bought the car, she finds out that Linda isn't interested in buying it. Jill:
A) cannot void the contract.
B) can rescind the agreement.
C) could rescind the agreement if she was mistaken in her estimate of the value of the auto.
D) can sue Linda for detrimental reliance.
Detrimental Reliance
A legal term describing a situation where an individual suffers harm by relying on a promise or representation made by another.
Rescind
To revoke, cancel, or repeal a contract, agreement, or order.
Estimate of Value
An approximation of something's worth, determined through analysis or professional appraisal techniques.
- Gain an understanding of the benchmarks for deeming a contract void or voidable.
Verified Answer
NN
Natalie NeversonJul 15, 2024
Final Answer :
A
Explanation :
Jill's belief that she could sell the car at a profit to Linda is a unilateral mistake regarding a future event, not a material fact about the contract itself. This does not provide a basis for rescinding the contract.
Learning Objectives
- Gain an understanding of the benchmarks for deeming a contract void or voidable.