The Legal Environment of Business: Text and Cases
The Legal Environment of Business: Text and Cases
10th Edition
ISBN: 9781337535878
Author: Frank B. Cross; Roger LeRoy Miller
Publisher: Cengage Learning US
bartleby

Concept explainers

Question
Book Icon
Chapter 12, Problem 2RE
Summary Introduction

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

To find: The possibility of the acceptance of the offer.

Blurred answer
Students have asked these similar questions
Peggy had an oral contract with Bill to locate desirable real estate that she could use for rental property. Peggy stated she wanted to find condos that could be purchased for under $300,000 that could be rented for at least $2,000 per month per unit. Bill located a new condo unit that could be purchased for $260,000 and was renting for $2,200 per unit. Bill noted that the units were new and a great deal, and he bought a unit for himself. About a month later, Bill found a second property that was listed for $250,000 and rented for $2,300 per unit. Bill told Peggy about this second property and not the first property, and Peggy purchased the second property. Afterward, Peggy learned that Bill had bought the $260,000 condo without telling her about it. Peggy believes that Bill has acted improperly. Bill claims that he did what Peggy asked -- he found a property for under $300,000 that rented for $2,000 per unit. Bill argues that he did not tell Peggy about the first condo because the…
Buyer Beatrice has entered into an exclusive buyer single agency agreement with Broker Nate. The agreement states that the broker will first look to the seller for payment of earned commission via the cooperating broker arrangement as published in the listing for the property on the local MLS. On one hand, Beatrice is glad that she probably won't have to pay the broker's fee, but on the other hand, she's worried that if Nate is being paid by the seller, his loyalty might be with the seller. Is Beatrice's concern warranted? Although Nate is operating as a single agent for Beatrice, her concerns might still be warranted since compensation representation and loyalty. Beatrice does not need to worry until it is actually determined from whom Nate's compensation will come. Beatrice does not need to worry because compensation does not equal loyalty or an agency relationship. Beatrice's concerns are valid. If she wants Nate to only consider her interests, she should not allow him to receive…
ZeeHome took a new project, building a school, in a new geographical area. The company (ZeeHome) was designated as a consultant on the project with the main task of supervising the work of the contractor. To operate as a consultant, the senior engineers of ZeeHome needed to perform site inspection on a regular basis. ZeeHome management insisted on taking on the consultancy project without making sure that they have the capacity to fulfil their obligations. In fact, during that period, ZeeHome was overloaded and had eight other important projects under process and all ZeeHome senior engineers were already assigned tasks to their full capacity. Consequently, ZeeHome could not dispatch a team of senior engineers to proceed with the inspection visits on a regular basis. Moreover, the few inspection visits that have taken were made by fresh graduated engineers who were still under training. The school building was completed on time and the school started its educational activities. More…
Knowledge Booster
Background pattern image
Business
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, subject and related others by exploring similar questions and additional content below.
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
BUSN 11 Introduction to Business Student Edition
Business
ISBN:9781337407137
Author:Kelly
Publisher:Cengage Learning
Text book image
Essentials of Business Communication (MindTap Cou...
Business
ISBN:9781337386494
Author:Mary Ellen Guffey, Dana Loewy
Publisher:Cengage Learning
Text book image
Accounting Information Systems (14th Edition)
Business
ISBN:9780134474021
Author:Marshall B. Romney, Paul J. Steinbart
Publisher:PEARSON
Text book image
Introduction to Business
Business
ISBN:9781947172548
Author:OpenStax
Publisher:OpenStax College
Text book image
International Business: Competing in the Global M...
Business
ISBN:9781259929441
Author:Charles W. L. Hill Dr, G. Tomas M. Hult
Publisher:McGraw-Hill Education
Text book image
Bcom
Business
ISBN:9780357026595
Author:LEHMAN, Carol M.
Publisher:Cengage Learning,