Waiver of Breach. Roger and Lois Robinson bought a mobile home ...

[tiara099]

Waiver of Breach. Roger and Lois Robinson bought a mobile home and lot subject to a promissory note secured by a deed of trust in favor of Delores Dorn and Elizabeth Britt. The note provided for monthly payments. The deed of trust provided that by accepting payment of any sum secured hereby after its due date Dorn and Britt would not waive

Question 2

Terry hires an agent, Janet, to sell a piece of property for no less than 50,000 with Janet to receive a 6 commission upon sale. Which of the following is Janet legally permitted to do without Terry's consent?
 a. Janet can sell the property to her brother for 50,000
  b. Janet discovers land values in the area are falling rapidly and, not having a chance to consult with Terry, sells the property for 45,000
  c. Janet discovers land values in the area are likely to jump up soon and so purchases the property for herself d. any of the other specific choices
  e. none of the other choices

[britb2u]

Answer to Question 1

Waiver of breach
No. The court acknowledged that Dorn and Britt's consistent acceptance of payments that were, on the average, one or two weeks late might have precluded their basing an action to sell the property on an additional one-week or two-week payment delinquency, unless they gave the Robinsons some notice beyond the nonwaiver clause that, in the future, strict timeliness would be insisted on. The court noted that payments are often delayed by two to three weeks without disturbing most creditors. The court emphasized, however, that by the time Dorn and Britt filed their action, the Robinsons had missed two payments without explanation and were almost two months late with one payment. This was well beyond commercially acceptable practice and well outside the scope of the parties' prior practice.

Answer to Question 2

e