W5 A1 1 answer below »

Part 1

Of the two scenarios below, explain the contractual issues and possible outcomes:

· Sammie loaned $5000 to his girlfriend Serena, so she could buy a used car to drive to work and school. Serena died in a car accident before she repaid the loan. Sammie claims he spoke to Serena's father and he agreed to pay the debt; however, her father has not paid the debt. Can Sammie recover the money? Why or why not?

· Wally contracted to sell his home to Wendy for $295,000. Before the deal closed, Wilson offered to purchase the house for $315,000. Wally accepted Wilson’s offer and refused to sell the property to Wendy.

Use the textbook, lectures and scholarly outside sources to support your work. As in all assignments, cite your sources in your work and provide references for the citations in APA format.

Part 2

Select two of the following topics, explain them, and provide a relevant example that does not appear in the textbook: Parol evidence rule Assignment of contract Non assignable contracts Condition precedent Condition subsequent Accord and satisfaction Force majeure Anticipatory breach Commercial impracticability Compensatory damages Consequential damages Nominal damages

Both parts are to be attached together into one post.

 

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