A person D wanted a custom-built recording studio in his home. He asked local contractors for bid submission. The lowest bid was of the person A. They both discussed the type and quality of the material to be used. The person D asksfor a better quality of material within the bid price. They also discussed the starting date for the construction work. Two weeks later, person D changed his mind to carry out the plan and person A filed a suit in response. To explain: Whether the bid of the person A met with the offer’s requirements.

Question

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Answer 1

Question

Chapter 12, Problem 1RE

Summary Introduction

Case summary: A person D wanted a custom-built recording studio in his home. He asked local contractors for bid submission. The lowest bid was of the person A. They both discussed the type and quality of the material to be used. The person D asksfor a better quality of material within the bid price. They also discussed the starting date for the construction work. Two weeks later, person D changed his mind to carry out the plan and person A filed a suit in response.

To explain: Whether the bid of the person A met with the offer’s requirements.

Expert Solution & Answer

Explanation of Solution

In this particular case, there is no offer because the terms of the offer have to be reasonably fixed or definite so that they are clear to both the parties. A bid can be also called an offer, if all the essentials of the offer are met. But in the given case, the price, materials, and the starting date of the probable contract are not clearly mentioned. So, this case cannot fall under the purview of an offer as all the requirements of the offer are not fulfilled.

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Answer 2

Question

Chapter 12, Problem 1RE

Summary Introduction

Case summary: A person D wanted a custom-built recording studio in his home. He asked local contractors for bid submission. The lowest bid was of the person A. They both discussed the type and quality of the material to be used. The person D asksfor a better quality of material within the bid price. They also discussed the starting date for the construction work. Two weeks later, person D changed his mind to carry out the plan and person A filed a suit in response.

To explain: Whether the bid of the person A met with the offer’s requirements.

Expert Solution & Answer

Explanation of Solution

In this particular case, there is no offer because the terms of the offer have to be reasonably fixed or definite so that they are clear to both the parties. A bid can be also called an offer, if all the essentials of the offer are met. But in the given case, the price, materials, and the starting date of the probable contract are not clearly mentioned. So, this case cannot fall under the purview of an offer as all the requirements of the offer are not fulfilled.

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Answer 3

Question

Chapter 12, Problem 1RE

Summary Introduction

Case summary: A person D wanted a custom-built recording studio in his home. He asked local contractors for bid submission. The lowest bid was of the person A. They both discussed the type and quality of the material to be used. The person D asksfor a better quality of material within the bid price. They also discussed the starting date for the construction work. Two weeks later, person D changed his mind to carry out the plan and person A filed a suit in response.

To explain: Whether the bid of the person A met with the offer’s requirements.

Expert Solution & Answer

Explanation of Solution

In this particular case, there is no offer because the terms of the offer have to be reasonably fixed or definite so that they are clear to both the parties. A bid can be also called an offer, if all the essentials of the offer are met. But in the given case, the price, materials, and the starting date of the probable contract are not clearly mentioned. So, this case cannot fall under the purview of an offer as all the requirements of the offer are not fulfilled.

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Answer 4

Question

Chapter 12, Problem 1RE

Summary Introduction

Case summary: A person D wanted a custom-built recording studio in his home. He asked local contractors for bid submission. The lowest bid was of the person A. They both discussed the type and quality of the material to be used. The person D asksfor a better quality of material within the bid price. They also discussed the starting date for the construction work. Two weeks later, person D changed his mind to carry out the plan and person A filed a suit in response.

To explain: Whether the bid of the person A met with the offer’s requirements.

Expert Solution & Answer

Explanation of Solution

In this particular case, there is no offer because the terms of the offer have to be reasonably fixed or definite so that they are clear to both the parties. A bid can be also called an offer, if all the essentials of the offer are met. But in the given case, the price, materials, and the starting date of the probable contract are not clearly mentioned. So, this case cannot fall under the purview of an offer as all the requirements of the offer are not fulfilled.

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Answer 5

Chapter 12, Problem 1RE

Summary Introduction

Case summary: A person D wanted a custom-built recording studio in his home. He asked local contractors for bid submission. The lowest bid was of the person A. They both discussed the type and quality of the material to be used. The person D asksfor a better quality of material within the bid price. They also discussed the starting date for the construction work. Two weeks later, person D changed his mind to carry out the plan and person A filed a suit in response.

To explain: Whether the bid of the person A met with the offer’s requirements.

Expert Solution & Answer

Explanation of Solution

In this particular case, there is no offer because the terms of the offer have to be reasonably fixed or definite so that they are clear to both the parties. A bid can be also called an offer, if all the essentials of the offer are met. But in the given case, the price, materials, and the starting date of the probable contract are not clearly mentioned. So, this case cannot fall under the purview of an offer as all the requirements of the offer are not fulfilled.

Answer 6

Chapter 12, Problem 1RE

Summary Introduction

Case summary: A person D wanted a custom-built recording studio in his home. He asked local contractors for bid submission. The lowest bid was of the person A. They both discussed the type and quality of the material to be used. The person D asksfor a better quality of material within the bid price. They also discussed the starting date for the construction work. Two weeks later, person D changed his mind to carry out the plan and person A filed a suit in response.

To explain: Whether the bid of the person A met with the offer’s requirements.

Expert Solution & Answer

Explanation of Solution

In this particular case, there is no offer because the terms of the offer have to be reasonably fixed or definite so that they are clear to both the parties. A bid can be also called an offer, if all the essentials of the offer are met. But in the given case, the price, materials, and the starting date of the probable contract are not clearly mentioned. So, this case cannot fall under the purview of an offer as all the requirements of the offer are not fulfilled.

Answer 7

Chapter 12, Problem 1RE

Summary Introduction

Case summary: A person D wanted a custom-built recording studio in his home. He asked local contractors for bid submission. The lowest bid was of the person A. They both discussed the type and quality of the material to be used. The person D asksfor a better quality of material within the bid price. They also discussed the starting date for the construction work. Two weeks later, person D changed his mind to carry out the plan and person A filed a suit in response.

To explain: Whether the bid of the person A met with the offer’s requirements.

Answer 8

Expert Solution & Answer

Explanation of Solution

In this particular case, there is no offer because the terms of the offer have to be reasonably fixed or definite so that they are clear to both the parties. A bid can be also called an offer, if all the essentials of the offer are met. But in the given case, the price, materials, and the starting date of the probable contract are not clearly mentioned. So, this case cannot fall under the purview of an offer as all the requirements of the offer are not fulfilled.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Ch. 12 - Prob. 1RE Ch. 12 - Prob. 2RE Ch. 12 - Prob. 3RE Ch. 12 - Prob. 1IS Ch. 12 - Prob. 2IS Ch. 12 - Prob. 1BS Ch. 12 - Prob. 2BS Ch. 12 - Prob. 3BCP Ch. 12 - Prob. 4BCP Ch. 12 - Prob. 5BCP

Concept explainers

Explanation of Solution

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