Carl, a salesman for Smith, comes to Benson’s home and sells him a complete set of “gourmet cooking utensils” that are worth approximately $300. Benson, an eighty-year-old man living alone in a one-room efficiency apartment, signs a contract to buy the utensils for $1,450, plus a credit charge of $145, and to make payment in ten equal monthly installments. Three weeks after Carl leaves with the signed contract, Benson decides he cannot afford the cooking utensils and has no use for them. What can Benson do? Explain.
The contract involves unreasonable price for the product to be sold and Individual S is going to be the only party who is going to benefit from the contract. So, the court can deny enforcing such a contract and make Individual B free from the liability, which arises from such a contract.
The contract between Individual C and Individual B is not reasonable due to the excessive price charged under the contract. So, Individual B cannot be held liable for making the payment.
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