Acceptance must be absolute,and must correspond with the terms of the offer. Discuss .
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Acceptance must be absolute,and must correspond with the terms of the offer. Discuss .

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- 81. Which of the following statements about a short sale is true? a. The seller's lien holder must forgive any shortfalls if there are any b. Sales proceed are inefficient to pay off liens c. The possibility of a short sale is not a material fact until contract has been formed noting information d. The seller must bring additional funds to satisfy liens to settlementLate one evening Charles and Henry are discussing the purchase and sale of $2,500 of coffee shop equipment after entrepreneurship class. They are in the classroom when Henry writes their agreement on the classroom whiteboard and both Henry and Charles sign it on the whiteboard. Discuss if this whiteboard document is sufficient to provide a binding written agreement?5. List the six (6) types of contracts that must be in writing.
- A. Does a contract have to be in writing? B. List three types of terms in a contract. C. Distinguish terms in a contract from a representation.On January 21 Cam came into the showroom and offered Alf £300,000 for the Porsche. Alf told Cam that he would consider his offer and get back to him. On January 22 Alf phoned Cam and said he would definitely accept £350,000 for the Porsche. Cam requested time to think about his decision. Alf told Cam that for payment of £100 he would hold the offer to Cam open, and not accept an offer from anyone else, until 12 noon on January 26. Cam paid Alf £100. At 11.45 am on January 26 Cam phoned Alf. Alf then told Cam that he couldn’t have it because it was already sold to someone else. Alf then said he was nevertheless agreeing to buy the Porche for £350,000 since he’d paid Alf not to sell to anyone else before the 12 noon deadline. Which TWO of the following statements regarding the Porsche are correct? A Alf has a right to the Porche because he agreed to buy it before the 12 noon deadline B When Alf sold the the Porche to someone else he was in breach of the collateral contract with Cam C…Offer, acceptance, and consideration are necessary elements of A a warranty a representation a contract insurable interest B. D
- Carl approaches you for advice. His friend, Eddy, who also works in the legal department, has explained to him that offer and acceptance forms the foundation of any agreement and is accordingly binding on both of them. Carl is unsure of these principles and requires clarification. Evaluate offer and acceptance with Carl as it has developed in South African Common law.Client Claire explicitly instructed Agent Jamie not to present her with any offers for her home that came in lower than $150,000. In the days after that conversation, three offers were made: one for $152,000, one for $160,000, and one for $145,000. Which of these offers should Agent Jamie present to Client Claire? only the $160,000 offer the $145,000 offer and the $152,000 offer the $152,000 offer and the $160,000 offer All of thenOn December 16, Daniella sent a letter to Casper offering to sell her business to Casper for $400,000. On December 29, Daniella sent another letter to Casper that stated that she was withdrawing the offer. Casper received that letter on December 31. On December 30, Casper sent a letter to Daniella accepting the offer. Daniella received that letter of acceptance on January 3. Daniella refused to sell the business to Casper, claiming that no contract had been formed. Casper sued to enforce the contract against Daniella . Decide the probable outcome of the case.
- Why is the performance of a pre-existing contractual obligation by the offeree not consideration for an offeror's promise? Give an example.All but which of the following must be present in order for a contract may be voided based upon mutual mistake? Multiple Choice 1. The mistake must result in a material effect on the contract. 2. a basic assumption about the subject matter of the contract is present. (Incorrect answer) 3. An adverse effect on a party who did not agree to bear the risk of mistake at the time of the agreement occurred. 4. Both of the parties were negligent in their representations to the other party.