Ask Question
BusinessBusiness
23 December, 08:46

Farmer Brown contracts to buy two tracts of land from Farmer Sal. Both parties believe that the two tracts are adjacent, but in fact they are not. Farmer Sal is still willing to sell the land, but Farmer Brown is adversely affected by the tracts not being adjacent. Because of this misunderstanding regarding the adjacency of the tracts, their contract is

+3
Answers (2)
  1. 23 December, 09:59
    0
    Voidable.

    Explanation:

    A voidable contract can be defined as a formal and legal contract established between two parties, which can be canceled if it is the option of any of the parties involved, if there are legal reasons.

    Some of the reasons that cause a contract to be canceled can be:

    Mistakes Fraud Undue duress One or more unacceptable terms A breach of contract

    Therefore, if one of the parties finds a defect in the contract and chooses not to reject it, the contract remains enforceable and valid.
  2. 23 December, 12:35
    0
    Answer: unenforceable by either party.

    Explanation: The contract becomes unenforceable due to a misunderstanding or misrepresentation of information regarding the said property. What farmer brown needs is a land which both tract are adjacent, which farmer sal believes he has. This is not the case as both tract are not adjacent. Though farmer sal is still willing to sell, the original contract becomes unenforceable due to misrepresentation of information pertaining to the land.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Farmer Brown contracts to buy two tracts of land from Farmer Sal. Both parties believe that the two tracts are adjacent, but in fact they ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
How should a "gain" from the sale of treasury stock be reflected when using the cost method of recording treasury stock transactions? a. As ordinary earnings shown on the income statement. b. As paid-in capital from treasury stock transactions. c.
Answers (1)
Which of the following people is an entrepreneur?
Answers (1)
Alpha company anticipated unit sales of widgets are January, 5,000; February, 4,000; and March 8,000. Alpha consistently maintained finished goods inventory at 80% of the following month's sales.
Answers (1)
Economists agree that a. neither high inflation nor moderate inflation is very costly. b. both high and moderate inflation are quite costly. c. high inflation is costly, but they disagree about the costs of moderate inflation. d.
Answers (1)
For each market listed below, determine whether it is best characterized as a Cournot oligopoly, Stackelberg oligopoly, or Bertrand oligopoly. a. Oil production.
Answers (1)
New Questions in Business
On November 1, 2021, Blossom Company purchased Splish, Inc., 10-year, 10%, bonds with a face value of $900000, for $820000. An additional $34000 was paid for the accrued interest. Interest is payable semiannually on January 1 and July 1.
Answers (1)
Which of the following statements regarding rational ignorance are true? Check all that apply. a. Because candidates take stands on a wide range of issues, a rationally ignorant voter may choose not to fully assess the costs and benefits of voting
Answers (1)
Jacob is creating a table to record his work schedule. When he typed in Wednesday, part of the word was not visible. Which of the following suggestions would be the quickest resolution to this problem? a.
Answers (1)
Chang industries has 1,400 defective units of product that have already cost $13.40 each to produce. a salvage company will purchase the defective units as they are for $4.40 each.
Answers (1)
Economic agents who generate externality are distinct from those who experience them. Example: one fisher catches juvenile fish that do not mature and are otherwise caught by another fisher in another location. O True O False
Answers (2)
Home » Business » Farmer Brown contracts to buy two tracts of land from Farmer Sal. Both parties believe that the two tracts are adjacent, but in fact they are not.
Sign Up Forgot Password?