True or False ___17. In Washington, a non-professional bailee might be able to l

Question

True or False

___17. In Washington, a non-professional bailee might be able to limit liability to the property owner for loss of the goods that are the subject of the bailment (e.g., an automobile).
___18. In order for a court to confirm that two “partners” have truly formed a partnership through their written agreement to acquire real estate, the partners must prove that they are actively carrying on a business; mere passive ownership of property is not enough to establish the existence of a legal partnership.
___19. In order to prevail on a theory of “commercial impracticability,” a party’s performance under the contract must become extremely costly or extremely difficult, and the party who wants to take advantage of the defense must show that the commercial impracticability situation was not foreseeable.
___20. An agent with express authority from a principal to sell real property at a non-judicial foreclosure sale for a stated minimum amount will still bind the principal to a sale of that real property for a lower amount, if the agent mistakenly opened the bids for sale of the property at that lower amount, and the buyer could have reasonably relied upon the agent’s apparent authority to sell the property for the lower amount.

Explanation / Answer

In Washington, a non-professional bailee might be able to limit liability to the property owner for loss of the goods that are the subject of the bailment (e.g., an automobile).

TRUE:- Washington Lodging Association published the Washington State Hospitality Law Manual, Third Edition, to help its members better understand the complex laws and regulations that govern lodging operations in Washington State

In order for a court to confirm that two “partners” have truly formed a partnership through their written agreement to acquire real estate, the partners must prove that they are actively carrying on a business; mere passive ownership of property is not enough to establish the existence of a legal partnership.

False

The Revised Uniform Partnership Act of 1997 defines partnership as:

“[A]n association of two or more persons to carry on as co-owners a business for profit…”

b.    According to Section 201 of the RUPA of 1997, a partnership is an entity distinct from its partners

c.    Section 202 of the RUPA of 1997 discusses the formation of partnerships

i.     According to Section 202 no formalities are required to form a partnership

ii.    There is no filing requirement; the agreement does not have to be in writing; etc…

iii.   The partnership may be formed inadvertently, w/out the intent of the parties

iii.   Section 202(c) sets forth factors to determine whether a partnership has been formed

d.    Partnerships are generally governed by agreement but if there is no agreement state partnership statutes provide default rules.

In order to prevail on a theory of “commercial impracticability,” a party’s performance under the contract must become extremely costly or extremely difficult, and the party who wants to take advantage of the defense must show that the commercial impracticability situation was not foreseeable.

True:- After a contract has been made, supervening events (such as a fire) may make performance impossible in an objective sense. This is known as impossibility of performance and can discharge a contract.14
Performance may also become so difficult or costly due to some unforeseen event that a court will consider it commercially unfeasible, or impracticable.

An agent with express authority from a principal to sell real property at a non-judicial foreclosure sale for a stated minimum amount will still bind the principal to a sale of that real property for a lower amount, if the agent mistakenly opened the bids for sale of the property at that lower amount, and the buyer could have reasonably relied upon the agent’s apparent authority to sell the property for the lower amount.

True:-

Throughout the 1980s and 1990s, real estate auction companies worked diligently to demonstrate that the real estate auction was a legitimate means of selling real estate, regardless of the category (such as residential, commercial, or “trophy home”). Thanks to intense marketing efforts, hundreds of thousands of successful sales, and most important, positive word of mouth, those first auction companies are now seen as pioneers.11 The first auction companies are knowledgeable organizations that revitalized an age-old sales approach to sell their clients’ properties expeditiously and for fair value

Because widespread use of auctions to sell nondistressed real estate is so new, the legal and ethical rules have not caught up with the issues facing the industry. 14 An exhaustive analysis of past claims and disputes, or those currently pending, is challenging. Research in this field is difficult because so many of the cases have been settled, often with confidentiality agreements before they reach appellate courts, or have been resolved through arbitration. 15 The absence of reported appellate cases makes it difficult to find specific examples of the gray area and to suggest how to avoid these problems. To investigate cases at earlier stages of litigation would require an in-person review of pending and resolved cases on a state by state basis—an impracticable task.

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