BUS LAW

Frank wants to build a house and requests three bids from various contractors. He hires one of the contractors that bid on the project. The contractor begins work but through the project the asks for an extra $20,000 due to increased material cost. Frank pays the extra money and the contractor and him make a deal to complete the house for that extra cost. What are the rights and remedies of each party? What will the defense attorney say in a hypothetical lawsuit? Word Limit: 125-150

The TV People sent a letter in early December to all of its charge account customers offering a 49″ stereo TV for $500, a great deal. The letter, signed by the store manager said that the offer would be held open until December 31st. Tom received one of those letters and went to the TV People on December 15th with cash in hand. When he went to the store, he saw a large sign there saying that the store had terminated the sale because the response had been so overwhelming. Tom wants to sue the store for breach of contract. Discuss the rights and liabilities of each of the parties, state what defenses and claims will be asserted and give me your opinion on who will succeed and why.
Mike wants to build a home for $100,000. He met with Bob and they agreed on the 100K to build the house. Mike got a loan for 100K from the Bank. The Bank hired an inspector and they would dispurse money on his reports.
After 3 months only $5,000 was left. Bob said it would take 30K to finish the job. Mike paid it and 2 months later another inspector says will cost 100K to complete.
Discuss the rights and liabilities of Mike against the Bank and original inspector. What will the defense be of those two? Limit 300 words.

 

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