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Question
Alice has inherited twenty-one acres of land in Alaska. Since she has no urge to visit Alaska she has never seen the land. Ron and Jane have moved onto the land and erected a home. They have started using the land and have even fenced much of it in. There is no mortgage on the land and Alice doesn't receive a tax bill because Ron and Jane pay the yearly taxes. After the statutory period in Alaska has run, Ron and Jane would become the owners of the land.Answer
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Related questions
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Which of the following involves a third party substitution?
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B.accord and satisfaction
C.substitute agreement/modification
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In Mobil Oil Exploration & Producing Southeast, Inc. v. United States:
A.Mobil was able to get out of the contract for the $156 million lease because the new law passed at the last minute changed the terms of the original contract amounting to repudiation by the United States.
B.Mobil was able to get out of the contract for the $156 million lease because the new law passed at the last minute changed the terms of the contract, barring certain types of oil exploration, frustrating Mobil's contractual purpose.
C.Mobil could not claim an anticipatory repudiation because even though as new law had been passed, they had not yet filed their oil excavation plan so they could not know whether they were facing a problem.
D.Mobil could not claim an anticipatory repudiation because even though as new law had been passed, it did not substantially change the terms of the original contract.
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Each of the following is a discharge by mutual consent except:
A.accord and satisfaction.
B.novation.
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Q:
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