LEARNING ACTIVITY 1
(1.) The common law of contracts would be applicable in this case (Clarkson et al., 2012). First, for all of its history the common law of contracts has always applied to real estate transactions. This case, which involves the selling of a house, is a real estate transaction. The Uniform Commercial Code (UCC) is a newer form of contract law that mainly focuses on the sales of goods or tangible property. It was established in response to increasing commercial actions (Blum, 2013). (2.) A court would likely find that no contract existed. The fundamental elements of any contract is ...
