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Levels Tought:
Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 398 Weeks Ago, 2 Days Ago |
| Questions Answered: | 66690 |
| Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
In February, Gardner, a schoolteacher with no experience in running a tavern, entered into a contract to purchase for $40,000 the Punjab Tavern from Mailing. The contract was contingent upon Gardner’s obtaining a five-year lease for the tavern’s premises and a liquor license from the state. Prior to the formation of the contract, Mailing had made no representations to Gardner concerning the gross income of the tavern. Approximately three months after the contract was signed, Gardner and Mailing met with an inspector from the Oregon Liquor Control Commission (OLCC) to discuss transfer of the liquor license. Mailing reported to the agent, in Gardner’s presence, that the tavern’s gross income figures for February, March, and April were $5,710, $4,918, and $5,009 respectively. The OLCC granted the required license, the transaction was closed, and Gardner took possession on June 10. After discovering that the tavern’s income was very low and that the tavern had very few female patrons, Gardner contacted Mailing’s bookkeeping service and learned that the actual gross income for those three months had been approximately $1,400 to $2,000. Will a court grant Gardner rescission of the contract? Explain
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