2. Gerald owns a shop in Kuala Lumpur. The shop sells various types of internet mobile phones. Last week,new stocks of internet mobile phones arrived from the United States (US) and an East Asia country (EastAsia). The internet mobile phones from US were the original "Orange Phone" product, while the ones fromEast Asia were not, though the features looked alike.Ivana, another customer, visited Geralď's shop, looking for a white "Orange Phone V.4". Gerald told her thatthe shop had run out of the white version, but he (Gerald) had one last new unit of white "Orange Phone V.4"in his house. Ivana agreed to buy that unit. However, unknown to Gerald, his house was burgled two hoursbefore that and the Orange Phone was stolen.Required:Explain whether there was a valid contract formed between Ilvana and Gerald. (Confine your answers to thelaw of contract).

Contract illustrates the interchange of promises, and it is formulated among two or more people. If…

Answered: 2. Gerald owns a shop in Kuala Lumpur.…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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