Highly profitable venture in bustling suburban shopping centre with turnover of $20,000 per month. No competitors. $250,000 plus stock-in-trade. Ring Angelo on 0434 123 456.
Barry telephoned Angelo and asked about the store. He asked what the expenses of the business were, and Angelo told him that they were $8,000 per month. Barry liked what he had heard, so he decided to check out how busy the shopping centre was. On the weekend, when he wasn’t working, he went to the shopping centre a few times and noticed that it was open all day Saturday and Sunday and was busy most of that time. He negotiated with Angelo and eventually agreed to buy the business for $200,000. To save money, he did not hire a lawyer, and signed a contract which included the following term:
The sale includes the following plant and equipment:
Delivery van $15,000
Barry paid for the business and took over running it on 1 January 2018. When he took over the store, he discovered the following problems:
You are providing a written report to your supervising partner. To impress him, you want to show that you worked hard at university by demonstrating your knowledge of law and your ability to use it. You need to provide a written report providing the following advices.
2. Advise how Barry might challenge the validity of the contract on the basis of the statements made by Angelo before the contract was entered into. You should consider both common law and statute law.
3. Assuming Barry does not get out of the contract, advise on the possibility of an action for breach of contract.
NOTE: These are questions where the focus is on your reasoning processes, so you should use the IRAC method. You do not need to repeat the facts unnecessarily, so only refer to the facts of the case to support your argument. Also, only refer to cases to illustrate or support the legal points you are making or the argument you are putting. If you do refer to cases, you need to demonstrate how they are relevant to the facts or argment. Your supervising partner will not be impressed by you simply reciting law without purpose.
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