1. What is the objective theory of contracts?

1. What is the objective theory of contracts? How would you apply it to Leonard v. PepsiCo Inc. 210 F. 3d 88 (2d cir 2000)? 2. Stambovky, a

resident of New York City, contracted to buy a house in the Village of Nyack, New York from Ackley. The house was widely reputed to be possessed by poltergeists, which Ackley and members of her family had reportedly seen and reported to the Readers Digest and the local press. In 1989, the

house was included in a five-home walking tour of Nyack and described in a newspaper article as a “riverfront Victorian (with ghost)”. Ackley did not tell Stambovsky about the poltergeists before he bought the house. When Stambovsky learned of the house’s reputation, however, he promptly

sued for rescission. Will he be successful? 3. Piatek had served a 10-year term in prison for assault with a deadly weapon. His criminal background prevented him from acquiring the license to sell insurance that was required by state law. Nevertheless, he sold insurance for

American Income Life Insurance Company under several false names. He then sued American Income Life Insurance to recover commissions on the sales that he had made. Will he be successful?