Mr. A wrote and mailed to Mr. B offering to sell his truck worth $10,500.00. In response, Mr. B replied by mail with a counteroffer of $8,000.00. Days later, Mr. B wrote again to Mr. A and said that he accepted the offer of $10,500.00 and the letter reached to Mr. A. Though there was an acceptance to the offer, but Mr. A decided to sell his truck to other interested party. 1. Is there a binding contract between Mr. A & B? If yes or no, please support your statement.

Mr. A wrote and mailed to Mr. B offering to sell his truck worth $10,500.00. In response, Mr. B replied by mail with a counteroffer of $8,000.00. Days later, Mr. B wrote again to Mr. A and said that he accepted the offer of $10,500.00 and the letter reached to Mr. A. Though there was an acceptance to the offer, but Mr. A decided to sell his truck to other interested party. 1. Is there a binding contract between Mr. A & B? If yes or no, please support your statement.

Similar questions

Jarvis Enterprises ordered 50 boxes of blueberries from Agricultural Wholesalers, Inc. Agriculture delivered 50 boxes of blackberries. Jarvis rejected the blackberries and attempted to contact Agriculture. After many unsuccessful attempts, Jarvis decided to sell the blackberries to Cold Ice Cream Co. for $500. Jarvis was ready to forward the money after deducting its expenses and a commission to Agriculture, but when Agriculture learned the sale price, it objected. Agriculture feels that the blackberries had a fair market value of $1,200, and that Jarvis sold the blackberries too cheaply. Discuss the legal rights and duties of Jarvis in this situation.
It is assumed that a drawer or maker will recognize his or her own signature and that a maker or an acceptor will recognize whether an instrument has been materially altered. Therefore, with respect to any of these parties who in good faith accepts an instrument, in terms of presentment warranties, a. all of them apply. b. none of them apply. c. only the warranties that the instrument has not been altered and that the person obtaining acceptance has no knowledge of an unauthorized signature apply. d. only the warranty that the person obtaining acceptance is entitled to enforce the instrument applies.
Ramona Smith spilled orange juice on her computer two days before her term paper was due. Ramona desperately needed a new laptop, so she went online and found a laptop that fit her needs. She emailed the seller, Effie Frost, expressing her desire to purchase the laptop. Effie ernailed Ramona back and said that she (Effie) would sell Effie's laptop to Ramona for $300. An hour later, Ramona and Effie signed the following agreement: "1, Effie Frost, agree to sell my laptop computer to Ramona Smith for Four Hundred Dollars and zero cents. This is the entirety of the agreement. This agreement supersedes any and all other agreements made by the seller and the buyer." Ramona now claims that she should only pay $300 for the laptop because during that initial email exchange with Effie, Effie told Ramona that $300 was the price of the laptop, and she has the email exchange as evidence of the price quote of $300. What legal concept could be used to enforce the contract for $400? O Condition…
Owe
A. 1. X, Y, and Z, co-owners, sold a inverter air-condition unit to A. They solidarity bound themselves to deliver the aircon unit in March 30. Through the fault of Y, the aircon unit was completely destroyed . Give the rights and obligations of the parties. B. 1. Joe, Nicolas, and Dante obliged themselves jointly to deliver to Ricky a particular racing horse on April 1. Their agreement which was made known to Ricky is that they will contribute the amount in buying the particular horse. However, the horse was not delivered on the date due because of failure of Nicolas to give his share of the purchase price. State the rights and obligations of the parties. 2. Dindo binds himself to pay his P20,000 loan in four (4) equal monthly installments. Is the obligation of Dindo divisible or indivisible? C. 1. Jaevis promised to deliver to Kyle a breeding cow. Their contract contains a penal clause that in the case of non-fulfillment, Jaevis Shall pay a penalty of P10,000. Jaevis wants to juts…
Stein, a mechanic, and Beal, a life insurance agent, entered into a written contract for the sale of Stein’s tractor to Beal for $6,800 cash. It was agreed that Stein would tune the motor on the tractor. Stein fulfilled this obligation and on the night of July 1 telephoned Beal that the tractor was ready to be picked up upon Beal’s making payment. Beal responded, “I’ll be there in the morning with the money.” On the next morning, however, Beal was approached by an insurance prospect and decided to get the tractor at a later date. On the night of .July 2, the tractor was destroyed by fire of unknown origin. Neither Stein nor Beal had any fire insurance. Who must bear the loss? Why?
Evaluate when a promise is enforceable, the elements of a contract, performance, and the remedies available in the event of breach.
Maia wrote a check that said "Pay to the order of Kevin Mathews $10.97." The next line of the check stated, "One thousand ninety-seven dollars." In applying the rules of interpretation, how much should the drawee pay? a. Nothing; when the instrument is ambiguous it is declared non-negotiable. b. $10.97; numbers control over words. c. One thousand, ninety-seven dollars, or $1,097.00. Words control over numbers. d. Parol evidence would be needed to determine the purpose of the check.
The standard of reivew used by the Connecticut Supreme Court in determining whether the takings were constitutional under the 5th Amendment was: a. The takings were reasonably necessary to achieve the City of New London's intended public use. b. The takings were substantially necessary to achieve the City of New London's intended public use. c. There was clear and convincing evidence that the economic benefits of City of New London's plan would in fact come to pass. d. The evidence was beyond a reasonable doubt that the economic benefits of the City of New London's plan would in fact come to pass.
Carol White ordered a $225 pair of contact lenses through an optometrist. White, an emancipated minor, paid $100 by check and agreed to pay the remaining $125 at a later time. The doctor ordered the lenses, incurring a debt of $110. After the lenses were ordered, White called to cancel her order and stopped payment on the $100 check. The lenses could be used by no one but White. The doctor sued White for the value of the lenses. Will the doctor be able to recover the money from White? Explain.
Mr. Oliver entered into contract with his friend Mr. Green to transport some material in two weeks’ time. About a month before the delivery was to be made, the material was banned by the legislature, and so delivery was not possible. Mr. Green could have been arrested by the police if he was caught delivering the goods, but he delivered it anyway. Mr. Oliver refuses to pay. i. What can you say about the contract Mr. Oliver and Mr. Green entered into? ii. Should Mr. Green have made the delivery? why or why not? iii. Can Mr. Green enforce payment? why or why not. iv. What was the impact of the legislative action on the contract?
Cody offered to sell certain land to Daniel for $50,000 by a letter, which was signed by Cody. The letter specified that the deal was to be closed by Nov. 1, 2018, and that the entire payment was to be in cash. Daniel sent a letter saying that he accepted the offer, but his letter also stated that payment was to be made one-half at closing and one-half 30 days later. As of March 2019, Cody had not responded. Discuss in detail whether there is a valid contract between Cody and Daniel.