Author Question: Deirdre read that bids were being solicited for the construction of an apartment tower. Deirdre ... (Read 74 times)

evelyn o bentley

  • Hero Member
  • *****
  • Posts: 564
Deirdre read that bids were being solicited for the construction of an apartment tower. Deirdre submitted the lowest bid and was offered the contract contingent on her providing acceptable sureties in the amount of 1 million. Because Deirdre never had done work on this scale, it was virtually impossible for her to obtain the appropriate sureties. She convinced Reassuring Sureties, Inc to issue the necessary commitment by misrepresenting that she was a famous builder in Canada. As the work progressed, it seemed to be going well and Deirdre was asked to make the project 52 stories instead of 50 stories, which was the original contract height. She agreed to this change. After the work was completed, many breaches of contract on the part of Deirdre became evident. Reassuring Sureties was sued for a 500,000 loss. Reassuring Sureties defended on the grounds of fraud and material change in the contract. Decide.

Question 2

Discuss the various steps and processes involved in probate.



billybob123

  • Sr. Member
  • ****
  • Posts: 336
Answer to Question 1

Fraud will not be an effective defense because the creditor did not know of, or participate in, the fraud. Material alteration of the contract (52 stories instead of 50 ) without the surety's permission is an effective defense.

Answer to Question 2

Students should review appointment of administrator, executor or personal representatives; collection of assets; payment of claims; distribution of assets; closing; publication of notices; hearings held, etc.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

More than nineteen million Americans carry the factor V gene that causes blood clots, pulmonary embolism, and heart disease.

Did you know?

The people with the highest levels of LDL are Mexican American males and non-Hispanic black females.

Did you know?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

Did you know?

Common abbreviations that cause medication errors include U (unit), mg (milligram), QD (every day), SC (subcutaneous), TIW (three times per week), D/C (discharge or discontinue), HS (at bedtime or "hours of sleep"), cc (cubic centimeters), and AU (each ear).

Did you know?

The cure for trichomoniasis is easy as long as the patient does not drink alcoholic beverages for 24 hours. Just a single dose of medication is needed to rid the body of the disease. However, without proper precautions, an individual may contract the disease repeatedly. In fact, most people develop trichomoniasis again within three months of their last treatment.

For a complete list of videos, visit our video library