8:08 4 0 0 .1 =21 36% Q
Scenario Anthony is very keen on off road driving and wants to purchase a Jeep. Looking through the for sale advertisements on Drive, Anthony notices that Peter has a Jeep for sale. Anthony contacts Peter and arranges to inspect the Jeep. On Tuesday afternoon Anthony and Peter meet at the off road testing course. Peter shows Anthony the Jeep. Anthony is extremely happy with the Jeep and has just one question. Anthony says that he will purchase the Jeep from Peter only if it is less than 10 years old. Peter responds that he can guarantee that the Jeep is only 5 years old. Peter and Anthony negotiate the terms of the contract which includes: • Purchase price of $12,000 • Peter will provide a roadworthy certificate • Payment will be by way of bank cheque • Transfer of vehicle will occur on 12 May 2022 time, and place to be arranged. On that basis Anthony agrees to purchase the Jeep. Peter has a contract of sale drawn up which Anthony signs. Unfortunately for Anthony he discovers that the Jeep is closer to 15 years old than the 5 that Peter claimed. Anthony approaches Peter