The Essentials of Contract Law

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Scenario

Joseph Hubbard signed a contract, agreeing to buy Marie Hoover’s home for $320,000. Ms. Hoover had transferred the rights of the home to TNT Land Holdings. The house was previously the subject of a previous attempt to sell. The first attempt failed when the buyer’s inspector detected certain anomalies including condensation on the windows and doors, among other things. While leading Hubbard on a “walk-through” of the home, the agent pointed out the repair work.

The written agreement that Hubbard and Hoover signed on July 29th, 2007, included a clause that allowed the buyer to inspect the property. Hubbard did not take the opportunity to have a professional examination of the property. In November 2007, Hubbard’s relative moved into the home and immediately reported problems with the deck, yard, and other locations.

After these reports, Hubbard had the home inspected and the report indicated that the land on which the house was built was shifting and the home was in danger of sliding into the lake. Hubbard suspected that the repairs indicated in the “walk-through” were an attempt to cover up issues that Hoover was aware of.

Resulting Outcome

Hubbard filed suit against Hoover alleging fraudulent concealment, misrepresentation, and breach of contract. At the trial level, the court decided in favor of Hubbard on all issues. Hoover appealed the matter. Hubbard Family Trust, et al. v. TNT Land Holdings, et al. (N.E. 3rd 411, 2014)

Instructions

write a 3–5 page academic paper. (Please be aware that the title page and the resource page do not count towards the total number of pages.)

Discuss whether there is an enforceable contract, and if John will be able to financially recover from this.

  1. What are the five required elements to create any contract?
  2. How does the statute of fraud relate to these elements?
  3. Discuss whether an enforceable contract has been established between the parties.
  4. Use at least three current, quality academic or authoritative sources in this assignment. Choose sources that are credible, relevant, and appropriate. Cite each source listed on your source page at least one time within your assignment.
 
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