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RESCIND- erasing *cases rescissible contracts 1) contracts entered into in behalf of ward suffer lesion ? value of property. 2)contracts agreed upon in representation of absentees. )undertaken in fraud of creditors. 4) which refer to things under litigation Rescission is not a principal remedy, shall be only to the extent necessary to cover damage caused, creates obligation of mutual rescitition Actions claim rescission must be commenced within four years. Cases voidable contracts (binding unless annulled) 1) Those where one of the parties is incapable of giving consent to a contract 2) Is vitiated by mistake, violence, intimidation, undue influence or fraud. Action should be brought within 4 years Ratification Duty of mutual restitution Unenforceable contracts

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Those that cannot be enforced in court or sued upon by reason of defects provided by law until Kinds: 1) Those entered into in the name of another by one without authority 2) Those that do not comply with the statute of frauds 3) Those were both parties are incapable of giving consent Statute of frauds 1) Agreement not to be performed within one year from the making 2) Promise to answer for the debt default of miscourage of another 3) Agreement consideration of marriage 4) Agreement sale of goods at price not less than 500 5) Leasing for a longer period than one year

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Business Law

Sillywood Video Stores has put the following notice in its shop window:
“Free to the first 10 individual purchasers of the new Monsters from Venus DVD, autographed filmset photographs of its star Jimmy Del Roy. Available from Monday morning at 9.00 am.”
On Sunday night, Victor, the owner of Sillywood hears of Jimmy Del Roy’s death of drug overdose. Realizing the photos may be quite valuable, he calls Karl and Maya, two dealers in the film memorabilia to ascertain whether they would each be interested in purchasing five signed photos each at $2000. Maya says she wants to think about it and will call him in the morning. Karl did not respond to Victor’s call, so Victor left him a text message stating that if he does not hear from him he will presume the Karl has accepted his offer.
Maya calls Victor in the morning at 6.30 am, saying that she accepts Victor’s offer, Victor inadvertently deletes the message without ascertaining who it was from. At 9.10 am Victor remembers to take the notice down concerning the photographs.
Simon has been waiting outside the store since 5.00 am to ensure he is one of the first to purchase the DVD. At 9.01 am, the store assistant sells Simon the DVD but refuses to give him the free photo as she has been told, by Victor, that the offer has been withdrawn.
Karl arrives at Sillywood at 10.15 am to collect his five signed photographs.
Discuss whom, if anyone, Victor has formed a contract with as regards the Jimmy Del Roy photographs. Your answer should include relevant case laws to substantiate.

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