Philip Agrees to Sell His 1972 Corvette to Phyllis for $25

question 66

Essay

Philip agrees to sell his 1972 Corvette to Phyllis for $25 000.Phyllis agrees to make a down payment of $12 500 immediately and to pay the remaining $12 500 within 30 days.After making the down payment,Phyllis encounters serious financial difficulties and is unable to come up with the balance of the contract price.She advises Philip that she will be unable to close the deal and asks for her down payment back.Philip refuses,claiming that the monies previously paid are to be forfeited if she does not perform her remaining obligations under the contract.What are Phyllis's chances of success in a lawsuit to recover the $12 500?

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Definitions:

Public Opinion

The aggregate of individual attitudes or beliefs held by the adult population.

Punitiveness

The quality or tendency of being punitive; inclined to punish or impose penalties.

War on Drugs

An American-led global campaign of prohibition and foreign military aid and military intervention, with the aim of reducing the illegal drug trade.

Declared

Means to make a statement or announcement in a public, official, or definitive way.