Chapter 9.4
Yes! In the State where this contract is being carried out, Winkel has the right to receive the profit share bonus. The initial written contract does not mention anything about the raise or profit-sharing. Unfortunately, because FHC made an oral modification to the written contract, which is allowed in the State, FHC must fulfill its oral commitment.
Chapter 10.7
Andrus is declared the winner in a situation where the insurance agent sends the insured a new policy shortly before the expiration date of their fire insurance policy. The new policy states that the insured can cancel it by returning either the policy or the lost policy receipt. If the insured does not respond, it is automatically assumed that they accept the policy. However, according to the law, since the insured did not respond, there was no acceptance and therefore no contract was created. As a result, the insured is not responsible for any unpaid premiums.
Chapter 11.4
Gough was already obligated to construct the trusses, so Chuckrow is not obliged to pay for their reerection. As a result, Chuckrow’s offer to pay cannot be considered as valid consideration for modifying the contract. Therefore, the contract remains unaltered and Chuckrow is only obligated to pay the original contract price.
Chapter 13.1
A contract can be cancelled if there is an error, whether it is mutual or unilateral. In the case of a mutual error, both parties can agree to cancel the contract or the court can adjust the terms to align with the original expectations. However, for a unilateral error, cancellation can only occur if the party seeking cancellation does not bear the risk of the mistake and the other party was unaware or should have been unaware of the error.
In this particular situation, during negotiations, the estate provided information regarding the square footage of their property in their offer and the buyer accepted this information. Although this could potentially be considered a mutual mistake, given that real property can be physically observed and no intentional deception occurred, it would have been easy for the estate to notice that they had misstated its size. Consequently, it was solely an oversight by the estate regarding both property size and price; however, as there was no action taken by buyer to exploit this mistake by cancelling or rescinding thcontractontract ,the buyer has every right to enforce specific performance.
