Our Services

Get 15% Discount on your First Order

[rank_math_breadcrumb]

Journal

3 parts- see attached

Assignment Content

Contract Scenario

Calvin had been an avid coin collector for many years, and the most valuable coin in his collection was an uncirculated, mint condition, 1943 Lincoln penny made of copper (most pennies made during World War II were made of zinc because copper was needed in the war effort). That penny had a value of between $60,000 and $95,000.

In August of 2017, Calvin had a serious stroke that left him unable to speak or walk, but his doctor assured his family that Calvin would recover over time with intensive therapy.

Calvin was a widower and did not have any children, but he had several nephews who visited him from time to time as he recovered. None of the nephews had any real interest in Calvin’s coin collection. One of Calvin’s nephews, Billy, who visited Calvin more often than the other nephews, sometimes listened to Calvin talk (talking was a part of Calvin’s therapy) about his mounting medical bills and his coin collection, but Billy never showed much interest in the medical bills or the coin collection.

In October, as Calvin’s recovery progressed slowly, Billy visited Calvin and told Calvin that he had been reading about coin collecting, and he realized that Calvin’s collection, especially the 1943 Lincoln copper penny, was valuable, and Billy suggested that Calvin should consider selling the 1943 Lincoln copper penny and use the proceeds to pay his medical bills. Calvin resisted the idea at first, but Billy continued to urge Calvin to sell the penny so that he would not have to worry about the medical bills. Finally, when Billy told Calvin that he would arrange the sale of the penny for a commission of just 5% of the sale price of the penny, Calvin began to think that selling the coin might be a good idea. He was still a little confused about how the sale would work and what Billy would do to make sure that the penny would be sold for the best price. Calvin told Billy that he thought that the penny was worth almost $100,000, but Billy assured Calvin that the market had changed recently, and that the penny was now worth $40,000 to $45,000. Eventually, Calvin allowed Billy to sell the penny for the best price he could get and to take a 5% commission for arranging the sale of the penny. Billy then sold the penny to a friend for $40,000, took his 5% commission, and paid the remainder of the sale price to Calvin.

A few months later, as Calvin continued to recover, he read a story in a coin collecting magazine about how an uncirculated, mint condition, 1943 Lincoln penny made of copper had just sold at auction for more than $100,000, and Calvin began to wonder if Billy had taken advantage of him. Calvin consulted a lawyer and asked the two questions below.

Exhibit 11-1 (on page 239 of the textbook) explains the relevant considerations for mental incapacity. Based on the facts presented, did Calvin have the mental capacity to enter into the contract when he agreed to let Billy sell the penny?

Page 264 of the textbook poses four questions to analyze when determining undue influence. Based on the facts presented, did Billy exert undue influence over Calvin to cause Calvin to enter into the contract that allowed Billy to sell the penny?

Your journal entry must be at least two pages in length and include at least two outside sources, one source must be from the CSU Library. Be sure to use APA formatting for all citations and references.

Share This Post

Email
WhatsApp
Facebook
Twitter
LinkedIn
Pinterest
Reddit

Order a Similar Paper and get 15% Discount on your First Order

Related Questions

Week 4 HRMD

See attached Unit 4 Assignment – HRMD 620 Case Study The company operates about 1,500 convenience stores. A sales assistant at one of the company’s stores was murdered while on duty on the second shift. The murder was widely publicized, and employees complained of inadequate security measures. As a result

Business Finance – Management homework

see attached Homework 1: 1 page with 2 references Describe a healthy SRM relationship and include support to justify your response. Homework 2: 2 pages with at least 2 references 1. Read:  What is a Supplier Relationship and Why Does it Matter?  /content/enforced/172243-co_SCM-530-MBOL1-2025SP2/What is SRM and why does it matter.pdf

GM MOTORS Free cash flow estimation and discounted cash flow valuation

 GM MOTORS  Free cash flow estimation and discounted cash flow valuation As discussed in class, estimate free cash flow to firm and free cash flow to equity for your company. Using WACC estimates in part-I, estimate fair value of stock using discounted cash flow methodology. Which of the two approaches

Business Finance – Accounting Proforma Assignment for GM Motors

 GM Motor – Company Part 1: WACC Calculation Using concepts learned during the class, estimate the weighted average cost of capital (WACC) for your company. The process involves several key steps: Cost of Equity Calculation using CAPM Model: Estimate beta for your company using regression analysis. Estimate beta using daily

Pro Forma Analysis

  Proforma Assignment Submit Here Part 1: WACC Calculation Using concepts learned during the class, estimate the weighted average cost of capital (WACC) for your company. The process involves several key steps: Cost of Equity Calculation using CAPM Model: Estimate beta for your company using regression analysis. Estimate beta using

help

Challenges Facing Healthcare Organizations This is an APA formatted paper with a title and reference page, appropriate headings and paragraphs, introduction and conclusion, in-text citations. The required information includes the following: 1. Challenges Facing Healthcare Organizations a. Identify and analyze common challenges encountered by healthcare organizations (e.g., rising costs, workforce

strategic healthcare management

assistance Strategies for Effective Healthcare Management a.    Discuss the importance of strategic planning and effective leadership in healthcare management. b.    Explore different leadership styles and their applicability in healthcare settings. The above information should be written as an APA formatted paper. Please include a title page, a topic

Business & Finance Proforma Assignment for GM Motors

  Part 1: WACC Calculation Using concepts learned during the class, estimate the weighted average cost of capital (WACC) for your company. The process involves several key steps: Cost of Equity Calculation using CAPM Model: Estimate beta for your company using regression analysis. Estimate beta using daily prices for past

risk management discussion week 4

This Week’s Topic: Physician Education, Patient Safety, and Board, CEO and Clinical Staff Roles  1. Describe six different subjects a risk manager should include in a curriculum designed for physicians to engage them in patient safety practices. Describe what might be included in each of these modules. Before you do

Management Discussion 4

In Chapter 10, it discusses high-performing team leadership. With any team, there are always potential conflicts. Barrett discusses at least four types of team conflict. Using the Barrett text and at least one article, discuss at least one type the textbook mentions AND provide an approach(es) to handle that type

Audio and video Media Production Techniques

   This activity will help you meet these educational goals: · Content Knowledge—You will create shot list based on your script, and shoot the required footage for your film. · Inquiry—You will perform an investigation in which you will communicate your results in written form. · 21st Century Skills—You will

Report for a small island

need to summerize monthly reports and achievement in one yearly report. Given that we are at the end of the budget year, this report should serve as your  end-of-year report rather than a standard monthly report. Please ensure the report includes: · Key achievements from the past year · Challenges and concerns faced

Economy

   What is the biggest challenge with the U.S economy now? How can these challenges be resolved?

financial anylysis

i have group project and i have to do 1. swot analysis, 2. Retirement income cash inflows, 3. Retirement income cash inflows with annuities . please see the case 1 and sample plan so you will know . my proffesor replied me by saying The link below provides a good

A1

 During December of 2018 Payless ShoeSource held a fake advertising campaign by inviting influencers in high fashion to attend the grand opening of “Palessi” – a high end shoe store selling shoes for $200-$650 (shoes from Payless ShoeSource [PSS] shoes that originally sell for $19-$39). Palessi’s grand opening was held

project

 For this assignment, you will participate in a class discussion about the topic of Ethics in Project Management and Society.   The assignment consists of an initial post and at least two replies to others’. Initial Post Project management principles, performance, and value delivery are essential components of successful project management.

GB601 MARKET SIMULATION

Creating a Measurable Marketing Strategy Across Cultures In your simulation this week, one item that you will be working on is advertising to include ad copy design, and media placement and ad frequency. As you grow past your home headquarters, you will need to create a marketing strategy that: ·

W3 T1

Due Saturday: 03/30 APA 4 paragraphs 3 sources Top of Form Research the ways compensated absences should be accounted for in governments.  Provide examples. Bottom of Form