Kip Sells an Apartment Building to Lacy with a Promise

question 27

Multiple Choice

Kip sells an apartment building to Lacy with a promise to repair the roof, which violates the local housing code, within six months. One year later, Kip sends Milo, a carpenter, to fix the roof. Lacy orders Milo to leave and refuses to make further payments to Kip, who files a suit against Lacy.
-Refer to Fact Pattern 15-3.Bell's repudiation is most likely

• A)a material breach.
• B)a minor breach.
• C)Chris's breach.
• D)no breach.

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Definitions:

Gratuitous Promise

A promise for which no consideration is given; not legally binding unless put in a deed or supported by some form of consideration.

Electronic Contracts

Legal agreements formed, signed, or accepted electronically, without the use of paper or wet ink.

Unreasonable Terms

Contract terms that are deemed excessively unfair or one-sided in favor of one party, potentially leading to legal challenges.

Standard Form Contract

A pre-prepared contract where most terms are set in advance with little opportunity for negotiation by the signatory.