STUDY GUIDE

I. Definitions

Detine or give the meaningof the following:

I. Goods; and
2. Remupmenl.

ll. Discussions

. 1. In general, what actions are available to the buy-

er in caseof breach of warranty by the seller of goods?
2. When is the buyer not given the right to rescind
although the seller committed a breach of warranty?
3. Givethree(3)situations
wherethesellerisgiven
the right to bring an action for damagesagainst B.
4. Give two (2) situations where thcsellcr of spe
cific goods is given the right to be paid nomithetanding
that delivery to B has not been effected.

1". Problems

Explain or state briefly the rule or reasonfor your

answer.

1. S agreed to sell and deliver to 8 specific goods-

B refused to accept the goods on the date designated.
S was so infuriated that he was hospitalized for a mild
stroke. May 5 hold B liable for his hospitalization ex'
ponsc?
2. Same example. The gouds are not of the quality
warranted by B. S informed B to deliver the goods at 8
reduced price. B communicated his acceptance. May 5
rescind the sale and require B to just pay damages?

oOo-
 STUDY GUIDE

1. Delinitions

Defineor give thé meaning of thefollowing:

,1. Legal redemption;
2. Equitable mortgage; and
3. Conventional redemption.
11.Discussions
1. What are the requisitesfor the right of legal Ib
ofa co-ownertoexist?
ClemPtion
2- Give the cases when a contractShallbe P1P-
sumedbylaw tobeanequitablemortgage.
3' Whataretheobligations
ofa vendora m who
deSiW-S
toexercise
hisrightofrepurchase?
HI. Problems

Explainor statebriefly the rule or reasonforyour

'
answer.
'
1. S signeda documentpurportingto be a saleof
hispaxcelof land to B with a right of repurchase.
Sclaims
that what he intended is to mertgage his propertyto B
'
for money loaned to him. What rem edy is availableto S:
reformation or annulment?

2. 8 soldhishousetoB witha rightofrepurchase

(a) May. B lease the property, knowing thatS
wiii certainly exercise his rightof redemption?
'
(b) Has B the obligationto respectthe leaseafter
exercisinghis right of redemption?
3. A, B, C, and D are co-ownersof a parcelof land
sold to E with a right of repurchase. May E requireall
on them to repurchase the whole property insteadof
partialrepurchaseby eachof them as regardshisown
share?