Business

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Hoffman v. Sun Valley Company The case is about an ordinary purchase of property, situated in Sun valley, Idaho and in possession of Sun Valley Company, by Fritz Hoffman and Fritz Fray. The company authorized Mr. Conger to represent it during the negotiations and to sign a contract which had to be approved by the company’s executive committee. Conger, Hoffman and Fray carried out the negotiations on a telephone and reached an acceptable for both parties agreement which was approved by the executive committee. All necessary documents were prepared but not signed by the parties. Meanwhile, the Sun Valley Company negotiated and sold all its property and assets to another purchaser including the Ruud Mountain which was the subject of the contract between the company and Hoffman, and Fray. The new proprietor refused to sell the Ruud Mountain Lot to Hoffman and Fray. They initiated proceedings pretending specific performance nevertheless the contract was oral under the Statute of Fraud. The proceedings reached the Supreme Court of Idaho where the Court investigating all the existing circumstances concluded that a mutual agreement about the sale was reached, and all the evidence supported the statement, but this agreement did not meet the juridical regulations for the transaction, so a valid contract did not exist. Unfortunately, the actions they undertook as the check of $5000 they sent as a deposit did not contain all the necessary requisites to snow without any doubt it was a part of the transaction. The Statute of Fraud requires that a party to be charged must have signed the contract executed in writing which in this case was not done. ... ... middle of paper ... ...nstructing a golf course. The contract price was $ 1 294 129. Gundersons started to work immediately, and three months later they had completed one – third of the whole construction and they could finish it if the bad weather did not paralyze everything. Ptarmigan paid Gundersons for the work completed to that date. The next spring when it was possible to restart the construction Ptarmigan was out of money and was unable to finance the completion of the golf course. Gunderson’s filed a claim against Ptarmigan demanding to recover the profits he lost for not completing the rest of the construction. The Trial Court did not adjudge damages, but its judgment was reversed by the Appeal Court of Colorado where it was appealed. After continued discussions, submitted evidence, analysis of every stage not completed the total amount of damages was defined.

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