Contracts, law homework help College Paper Lab | collegepaperslab.com

Business Finance

Contracts, law homework help College Paper Lab | collegepaperslab.com

This doesn’t need to be a paper, it is just a discussion post.

Buy and sell a two year old vehicle, a lemon car. A lemon is usually a vehicle that has had several unsuccessful repairs of the same problem. The buyer does not know the condition of the car but is smart enough to try and protect against the car being a Lemon because the Lemon Law does not protect consumer to consumer transactions. Fraud is not an issue in this instance. Assume both the buyers and sellers are consumers. Make mock offers, acceptances, and mock counteroffers in selling and buying this used vehicle. You may act as a buyer, seller, or both.

The initial offer on the table is for $12,000, sold “as is,” which means no warranties, and it also states that the buyer has to make all repairs. The First National Bank has a $2,000 lien on the car and insists that the $2,000 be paid at closing. Assume that the state laws do not allow you to let someone have it for a trial period before transferring title and insuring it in the name of the new owner.

Work on detailed terms and possible trades and adjustments as well as price

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