*Analysis Paper*
Case- Jannusch vs. Naffziger, 2008
Case fact-
Gene and Martha Jannusch owned Festival Foods, which served snacks at
events throughout Illinois and Indiana. The business included a truck,
servicing trailer, refrigerators, roasters, chairs, and tables.
Lindsey and Louann Naffziger orally agreed to buy Festival Foods for
$150,000, the deal including all the assets and the opportunity to work at
events secured by the Jannuschs. The Naffzigers paid $10,000 immediately,
with the balance due when they received their bank loan. They took
possession the next day and operated Festival Foods for the remainder of
the season.
In a pretrial deposition, Louann Naffziger acknowledged orally agreeing to
buy the business for $150,000. (Her admission under oath made the lack of a
written contract irrelevant.) However, she could not recall making the
agreement on any particular date. Gene Jannusch suggested the parties sign
something, but the Naffzigers replied that they were “in no position to
sign anything” because they had received no loan money from the bank and
lacked a lawyer. Lindsey admitted taking possession of Festival Foods,
receiving the income from the business, purchasing inventory, replacing
equipment, and paying taxes and employees.
Two days after the business season ended, they returned Festival Foods to
the Jannusches, stating that the income was lower than expected. The
Jannusches sued. The trial court ruled that there had been no meeting of
the minds and hence no contract. The Jannusches appealed.
Paper requirements:
#Facts of case
# Disscuss the law applied
# Application of the law to the fact
# Relate the case to the business Law
# Conclusion
GeneralEssayUndergraduate
Need this done?
Similar assignment?
Get it done by a vetted professional writer in as little as 1 hour.