Author Question: The rule against perpetuities applies to options. Indicate whether the statement is true or ... (Read 64 times)

michelleunicorn · **on:** Jun 24, 2018

The rule against perpetuities applies to options.
Indicate whether the statement is true or false

Question 2

Jared agrees to purchase twelve computers from Zack Enterprises, Inc for sale in Jared's department store. Twelve boxes from Zack Enterprises have just arrived at the department store. What are Jared's rights and responsibilities?

nathang24 · **Reply #1 on:** Jun 24, 2018

Answer to Question 1

FALSE

Answer to Question 2

Jared first has a right to examine, or inspect, the goods. This right extends beyond merely looking at the boxes to determine whether there is evidence of damage. Jared may remove the computers from their boxes and test each computer. If the goods are not conforming to the contract in any way, Jared may reject the shipment. If Jared does not reject a non-conforming delivery, he may have the right to revoke acceptance. In order to revoke acceptance, Jared would have to establish that the computers did not conform to the contract, the defect is such that it substantially impairs the value of the contract to him, and either the defect is such that he could not have discovered the problem prior to acceptance, or Zack Enterprises promised to correct a problem Jared was aware of and pointed out to the seller prior to acceptance.