LAW514 Commercial Law Assignment Answers Help
- Number of Words: 1500
ASSIGNMENT 2 – PROBLEM-BASED QUESTION
Maude is 85. Her husband, who was a coin collector, has recently died. Shortly after his death Bernie, a fellow coin collector, visits Maude, bringing flowers and offering to buy her husband’s coin collection for $10,000. He stresses that he could give her the money immediately, and if she doesn’t sell today the sale will have to wait several months, as he is going overseas.
Maude is overcome with grief and is worried about how she is going to pay for the funeral and for the caravan they have just paid a deposit on. She has no idea of the value of her husband’s coin collection, but $10,000 sounds like a lot of money, so she accepts. She then discovers that the collection includes a 1930 penny worth between $250,000 and $300,000. Bernie was aware that this coin is in the collection. He was also aware of Maude’s’ financial worries. Advise Maude.
- Was Bernie involved in unconscionable
- Discuss the type of advice accountants can and cannot provide to their clients in terms of borders between legal and accounting advice in contract
Important: Answers must refer to primary legal sources.
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