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Question 10 (3 points)

true or false explain

Aziz recently had his stamp collection appraised and was shocked when the appraiser valued his George VI stamp at only $100. He told Aziz that only those 1941-42 George VI stamps with imperforate (small hole) errors were rare and valuable, and that his stamp did not have any imperforate errors.

Aziz has a sustainable legal claim against the auctioneer for misrepresentation.

True / False [1 mark]

Briefly explain your answer. [2 marks]

Question 10 options:

Question 11 (3 points)

Trent is a wheat farmer. The market for wheat is very volatile, with prices fluctuating daily. Trent approaches Matt, a commodities trader who buys and sells wheat. He offers to sell his wheat crop to Matt for $12 per bushel, which is the market price for a bushel of wheat on that day. Matt says that he will think about it and get back to Trent. Three weeks later, Matt calls Trent and says he accepts the offer. Trent knows that at this time the market price for wheat is $15 per bushel.

Trent is contractually bound to sell Matt his wheat crop for $12 per bushel.

True / False [1 mark]

Briefly explain your answer. [2 marks]

Question 11 options:

Question 12 (3 points)

New Age Toy Corporation entered into a distribution agreement with the Canadian Kids' Company for distribution of its toys in Canada. Their agreement stipulated that retail stores could not sell any New Age toy to customers at less than New Age Toy's recommended customer price. The Canadian Kids' Company sold a large quantity of New Age Toys to the Play With Me Toy Corporation for its retail store chain in Ontario. Play With Me Toy Corporation, in turn, sold the toys to customers at prices less than New Age Toy's recommended customer price. The New Age Toy Corporation commenced legal action against Play With Me Toy Corporation for breach of contract.

New Age Toy Corporation will be successful in its legal action against Play With Me Toy Corporation for breach of contract.

True / False [1 mark]

Briefly explain your answer. [2 marks]

Question 12 options: