ew Share Window Help ex 2 ~ 125% v + T Zoom Add Page Insert Table Chart Text Shape Media Comment 4. Downtown Abby is a dance studio in the city of Parker Place. One day Fancy Feast, a local admirer of the arts, enters Downtown Abby with paperwork designed to set up an educational trust to instruct 40 area girls with scholarships for dance lessons. The paperwork and monetary concerns were all notarized an in order. The terms of the agreements said the girls would get the instructions for 4 years as long as they kept their schoolwork at a minimum of 3.25 out of 4 and could not afford the lessons otherwise. Two years into the agreement, Downtown Abby sold their business to Walk this Way Studios. Walk this Way Studios as part of their contract to purchase signed over the assumption of duties and the receiving of rights. Upon hearing of the change, Fancy Feast indicates that he will revoke his educational trust for the girls. Discuss all relevant issues. (3 points). 5. Explain either concept of the Statute of Frauds with two examples or the Parole Evidence Rule with two exceptions. (2 points). 6. What is Mistake with regards to contract law? (2 points) 7. Pensly owns a small store on 4th Avenue in Big City. One day Pusher, a local "insurance agent" comes into Pensly's store and says, "This is a nice store, it'd be a shame if it burnt down. You should buy Fire Insurance from me at $500 a month fee." Pensly agrees on the spot but then decides that he doesn't want to pay for the coverage. If Pusher sues Pensly for breach of contracty does Pensly have a good excuse? (3 points). FEB 11