Question

Walter runs a small museum that displays antique VW busses. Shane sells Walter a VW bus, telling him it has a brand new engine and will run well for another few years. Walter finds out that the engine is 15 years old, but is not permitted to rescind the contract. Why not?

Answer 1

Answer:

Because Walter did not rely on Shane's statements.

Explanation:

From the question, we are informed about Walter who runs a small museum that displays antique VW busses. Shane sells Walter a VW bus, telling him it has a brand new engine and will run well for another few years. Walter finds out that the engine is 15 years old, but is not permitted to rescind the contract. In this case, Walter not permitted Because Walter did not rely on Shane's statements. A contract can be regarded as a written/ spoken agreement between two parties, and it is legally enforceable. Rescission can be regarded as voiding of a contract which is viewed as not legally binding. This can be done in Court. For the contract to be rescinded, there should be a valid reason presented to the judge to do so And both parties must agree to carry out the rescind.