Lms Integrated Mindtap Business Law, 1 Term (6 Months) Printed Access Card Cross/miller’s The Legal Environment Of Business: Text And Cases, 10th
10th Edition
ISBN: 9781337093897
Author: Frank B. Cross, Roger LeRoy Miller
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
Chapter 14, Problem 1BS
Summary Introduction
Case summary: Person P, emailed person W on 1st may, informing that he has a convertible car in perfect condition and will sell it before 9th June. Since, P got no response from W, he sold the car to someone else. W accepted the offer on 29th may and sued P for breach of contract.
To find: The breach of contract in the given case.
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
1. John has a lending company. In his letter mailed on September 15, he offered to sell his business to Peter for $20,000.00. The letter was received by Peter on September 20. On September 25, Peter sent his letter of acceptance in which John received on September 28. However, on September 23, John had decided to withdraw and mailed a letter to Peter revoking it. The letter was not received until September 29.
Did the contract form? When? Please state your reasons
2. A father made a will leaving everything to his infant son. In his will and testament, he appointed John as his executor, in the event of his death. As executor, John is responsible to administer his estate on behalf of his son. Prior to the death of the father, he bought a piece of land using a mortgage and began building a cottage on this land. Prior to its completion, he died. Upon his death, John then acts as the son’s guardian and administrator of the estate on his behalf. John was not paid for this service.
As a…
On April 1, Orizon LLC sent Jim Stevens a letter via overnight delivery, offering to employ him to audit Orizon, LLC’s financial statements for the current year for $10,000. In the letter, Orizon, LLC stated that Jim had ten days to accept.
On April 5, Jim sent Orizon, LLC a fax that stated, "The price for the audit seems too low. Would you consider paying $12,000?" Orizon, LLC received the fax.
The next day, Serena Williams heard about the offer to Jim and said to Orizon, LLC, “I will accept that offer!” On learning of Serena’s statement, Jim immediately e-mailed Orizon, LLC agreeing to do the work for $10,000. Orizon, LLC received this e-mail on April 7.
1. Explain in detail why Orizon, LLC and Jim do, or do not, have a contract.
2. If you did not discuss it already, would applying the mailbox rule change your answer in #1?
3. Can Serena accept this offer?
Jeff says to Brenda, “I offer to sell you my PC for $900.” Brenda replies, “If you do not hear otherwise from me by Thursday, I have accepted your offer.” Jeff agrees and does not hear from Brenda by Thursday. Does a contract exist between Jeff and Brenda? Explain.
Chapter 14 Solutions
Lms Integrated Mindtap Business Law, 1 Term (6 Months) Printed Access Card Cross/miller’s The Legal Environment Of Business: Text And Cases, 10th
Knowledge Booster
Similar questions
- 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.arrow_forwardWith a banker’s acceptance, certain conditions, such as delivery of the merchandise, may be specified before payment is made; True or Falsearrow_forwardA contractor has agreed to build a home for Jane for $300,000. Early in the construction of the home, Jane is informed by the bank that she can only have a $280,000 loan. Jane speaks to the contractor, asking if he would drop his price by $20,000. As it happens, she called the contractor while he was watching his daughter on stage accepting an award for her dance performance. He took Jane's call and being so emotionally overwhelmed at the time by his daughter's success, that he told Jane sure, no problem. However, when it came time for final payment, he told Jane he changed his mind and needs full payment. Jane comes to see you, her lawyer, and asks for your advice. What do you tell her?arrow_forward
- On July 4 just before leaving the house to walk to the bus stop to grab a bus for the beach (Kyle still had Harvey’s car), Harvey opened his mail to find a termination notice from his employer. Harvey is now unable to pay Alexa, Anthony’s, Kyle, or any of his other creditors. Meanwhile, on July 3 Anthony’s had transferred the note made to him by Harvey to Dom, a supplier, in settlement of money owed by Anthony’s to Dom. Dom did not know Harvey, nor did he have any information that would indicate that Harvey would not pay on the note. Regarding the note transferred to Dom, if Dom sues to get paid he should prevail against any proved a. real defense b. personal defense c. impersonal defense d. defensearrow_forwardAcceptance must be absolute,and must correspond with the terms of the offer. Discuss .arrow_forward(a) X offered to lease a certain building to Y. Within the period of the option given to him, Y finally accepted the offer. A few hours after mailing the letter of acceptance, he changes his mind. May he revoke his acceptance by means of a telegram. (b) When the offeror has not fixed a period for the offeree to accept the offer is made, when should acceptance be made?arrow_forward
- Wong engages Chen as his agent to sell his house. Wong's brother tells Chen that Wong will sell the house for $500.000. A purchaser offers to buy the house for $510.000. Chen tells the purchaser, I can accept that offer on behalf of my client The purchaser obtains a bank loan to buy the house. When Wong finds out what Chen has done he is furious and refuses to accept the proposed sale agreement. Which of the following statements is true: (A) Wong is bound to sell the house to the purchaser for $510,000. (B) Wong is not bound by Chen's acceptance' because he did not authorize Chen to make any sale agreement on his behalf. (C) Wong's brother authorized Chen to accept the offer and therefore Wong is bound to sell the house to the purchaser for $510,000. (D) Chen is entitled to apply to the court for an order of specific performance compelling Wong to complete the contractarrow_forwardFacts: You offered to sell your automobile to Wil for P100,000.00. After inspecting the automobile, Wil offered to buy it for P80,000.00. This offer was accepted by you. The next day, you offered to deliver the automobile, but Wil being short of funds, secured postponement of the delivery, promising to pay the price “upon arrival of the steamer”. The steamer however never arrived because it was wrecked by a typhoon and sank somewhere off the Coast of Samar. Question: Is there a perfected contract in this case? Why or why not?arrow_forwardTwo days after closing, The seller gives a $500 bonus to the selling agent. The agent should: a) immediately deposit check into his account b) instruct the seller to issue the check to agents broker c) cash the check and give the broker his share of the bonus d) instruct seller that bonuses are illegalarrow_forward
- Formal Requirements Mr. Higgins operated a used car dealership in the state of Alabama. Higgins purchased a Chevrolet Corvette. He paid for the car with a draft on his account at the First State Bank of Albertville. Soon after, Higgins resold the car to Mr. Holsonback. To pay for the car, Holsonback signed a check that was printed on a standard-sized envelope. The reason the check was printed on an envelope is that this practice made it easier to transfer title and other documents from the seller to the buyer. The envelope on which the check was written contained a certificate of title, a mileage statement, and a bill of sale. Does a check printed on an envelope meet the formal requirements to be classified as a negotiable instrument under the UCC?arrow_forwardAl, the owner of Fitness Corp., a manufacturer of gym equipment, calls Bob, the owner of Bob's Gym. During the conversation, Al offers to sell Bob an assortment of 100 dumbells, of different weights and sizes, for $600.00. After the phone call, Al sends Bob an email confirming their conversation. Since Al and Bob never signed a contract, their agreement is unenforceable under the Statute of Frauds. True Falsearrow_forwardTommy posted a flyer on the bulletin board of a local music school, stating that he was hosting an event next month, for which he planned to hire a DJ. The flyer invited interested students to contact him with their hourly rates and three past clients whom Tommy could contact for references. The flyer also gave a local mailing address for this purpose. Leaving class one night, Gina happened to notice the billboard. She immediately wrote to Tommy indicating that she was available on the date in question, and that her hourly rate was $150. She also listed the names and contact information of three prior clients. Three days later, Tommy wrote back to Gina, stating that her references had all given excellent reviews, and asking whether Gina would be willing to work for $100 per hour if he advertised her services in the program provided for the event. Student received the letter the day after Tommy sent it, and wrote back the next day that she would be willing to drop her rate to $125 per…arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- BUSN 11 Introduction to Business Student EditionBusinessISBN:9781337407137Author:KellyPublisher:Cengage LearningEssentials of Business Communication (MindTap Cou...BusinessISBN:9781337386494Author:Mary Ellen Guffey, Dana LoewyPublisher:Cengage LearningAccounting Information Systems (14th Edition)BusinessISBN:9780134474021Author:Marshall B. Romney, Paul J. SteinbartPublisher:PEARSON
- International Business: Competing in the Global M...BusinessISBN:9781259929441Author:Charles W. L. Hill Dr, G. Tomas M. HultPublisher:McGraw-Hill Education
BUSN 11 Introduction to Business Student Edition
Business
ISBN:9781337407137
Author:Kelly
Publisher:Cengage Learning
Essentials of Business Communication (MindTap Cou...
Business
ISBN:9781337386494
Author:Mary Ellen Guffey, Dana Loewy
Publisher:Cengage Learning
Accounting Information Systems (14th Edition)
Business
ISBN:9780134474021
Author:Marshall B. Romney, Paul J. Steinbart
Publisher:PEARSON
International Business: Competing in the Global M...
Business
ISBN:9781259929441
Author:Charles W. L. Hill Dr, G. Tomas M. Hult
Publisher:McGraw-Hill Education