...MGMT 597 Week 2 Assignment: Cases 14.2, 16.10, 18.2, 20.3 Ifeyinwa Onyekwena Keller Graduate School of Management 14.2 - Real Property Robert Briggs and his wife purchased a home located at 167 Lower Orchard Drive, Levittown, Pennsylvania. They made a down payment and borrowed the balance on a 30-year mortgage. Six years later, when Mr. and Mrs. Briggs were behind on their mortgage payments, they entered into an oral contract to sell the house to Winfield and Emma Sackett if the Sacketts would pay the three months’ arrearages on the loan and agree to make the future payments on the mortgage. Mrs. Briggs and Mrs. Sackett were sisters. The Sacketts paid the arrearages, moved into the house, and continued to live there. Fifteen years later, Robert Briggs filed an action to void the oral contract as in violation of the Statute of Frauds and evict the Sacketts from the house. Who wins? Briggs v. Sackett, 275 Pa. Super. 13, 418 A.2d 586, Web 1980 Pa.Super. Lexis 2034 (Superior Court of Pennsylvania) In this case the statute of frauds applies in 3 ways. The statute of frauds states that a written contract is required under the following circumstances present in the case: • When real property is involved – A home is classified as real property, therefore any transfer of ownership is required to be written; • When the contract cannot be performed in one year – Since the mortgage transfer had a remaining duration of 24+ years (including payments in arrears) it satisfies the criteria...
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...without permission in writing from the publisher. Compilation Copyright © 2002 by Pearson Custom Publishing. This copyright covers material written expressly for this volume by the editor/s as well as the compilation itself. It does not cover the individual selections herein that first appeared elsewhere. Permission to reprint these has been obtained by Pearson Custom Publishing for this edition only. Further reproduction by any means, electronic or mechanical, including photocopying and recording, or by any information storage or retrieval system, must be arranged with the individual copyright holders noted. This special edition published in cooperation with Pearson Custom Publishing Printed in the United States of America 10 9 8 7 6 5 4 3 2 1 Please visit our web site at www.pearsoncustom.com ISBN 0–536–63099-2 BA 993095 PEARSON CUSTOM PUBLISHING 75 Arlington Street, Suite 300, Boston, MA 02116 A Pearson Education Company SECTION ONE Understanding Marketing Management Marketing in the Twenty-First Century We will address the following questions: ■ What are the tasks of marketing? ■ What are the major concepts and tools of marketing? ■ What orientations do companies exhibit in the marketplace? ■ How are companies and marketers responding to the new challenges? C hange is occurring at an accelerating rate; today is not like yesterday, and tomorrow will be different...
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