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Blaw201 week 5 discussions

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Question;Week 5Dq1Teller ordered;a shipment of coffee from Brazil. The coffee was due to arrive shortly in;New York, and he expected to sell it for a profit. He then entered into;an agreement with Nelson whereby they mutually promised to share equally the;profit and losses realized in the venture. Teller paid $40,000 for the;coffee, but was unable to sell it for more than $24,000. Nelson refused;to abide by the agreement, and Teller sued him to recover $8,000.;Nelson?s defense was no consideration. Judgment for whom? Dq2Genardi owed Wong a debt of $5000, which was long;overdue. Fry, a friend of Genardi, wrote as follows to Wong: ?I know how;badly you need the money and that you?ve waited for it a long time. But;give yourself no concern. I am writing to promise that I?ll pay Genardi?s;debt to you within the year if he doesn?t. Heaven knows you?re entitled;to it.? Wong was much pleased by the receipt of this letter.;Bearing this in mind, for one year she patiently bided her time and took no;action whatever to collect the debt from Genardi. At the end of this;period, the debt remained unpaid. Genardi and Fry both refused to;pay. Under the facts presented, does Wong have a case against Fry?;Explain fully.Dq3On April 1;2008, Creese loaned $6,000 to Dasher in exchange for Dasher?s promise to make;repayment, together with 8 percent interest, one year from that date. (A);Suppose that on May 1 2008 Dasher pays $5000 cash to Creese, in return for;Creese?s promise to cancel the entire debt. May Creese claim anything;more from Dasher? (B) Suppose that on May 1, 2009 Dasher sent his check;for $5000 to Creese, who cashed the check after seeing upon it the stipulation;?Payment in full of all debts owed by Dasher to Creese.? May Creese claim;anything more from Dasher? (C) Suppose that on May 1, 2009 Dasher holds;Cohick?s promissory note payable to Dasher in the sum of $5000, and then Dasher;endorses and surrenders this note to Creese, in return for Creese?s promise to;cancel the entire debt. May Creese claim anything more from Dasher?

 

Paper#59122 | Written in 18-Jul-2015

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