Smith and Roberson’s Business Law
Smith and Roberson’s Business Law
17th Edition
ISBN: 9781337094757
Author: Richard A. Mann, Barry S. Roberts
Publisher: Cengage Learning
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Chapter 10, Problem 10Q

a)

Summary Introduction

To discuss: Whether the parties didn’t agree on the price to be paid for the watch defences the goods.

b)

Summary Introduction

To discuss: Whether the parties didn’t agree on the time and place of delivery of the watch to small.

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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.
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…
The H owned and operated a successful small bakery and grocery store. They spoke with L, an agent of Red Owl Stores, who told them that for $18,000, Red Owl would build a store and fully stock it for them. The H sold their bakery and grocery store and purchased a lot on which Red Owl was to build the store. L then told H that the price had gone up to $26,000. The H borrowed the extra money from relatives, but then L informed them that the cost would be $34,000. Negotiations broke off and the H sued. Can H win the case? Explain.
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