Smith and Roberson’s Business Law
17th Edition
ISBN: 9781337094757
Author: Richard A. Mann, Barry S. Roberts
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
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.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
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.
Chapter 10 Solutions
Smith and Roberson’s Business Law
Ch. 10 - Prob. 1COCh. 10 - Prob. 2COCh. 10 - Prob. 3COCh. 10 - Prob. 4COCh. 10 - Prob. 5COCh. 10 - Prob. 1QCh. 10 - Prob. 2QCh. 10 - Prob. 3QCh. 10 - Prob. 4QCh. 10 - Prob. 5Q
Ch. 10 - Prob. 6QCh. 10 - Prob. 7QCh. 10 - Prob. 8QCh. 10 - Prob. 9QCh. 10 - Prob. 10QCh. 10 - Prob. 11QCh. 10 - Prob. 12QCh. 10 - Prob. 13QCh. 10 - Prob. 14CPCh. 10 - Prob. 15CPCh. 10 - Prob. 16CPCh. 10 - Prob. 17CPCh. 10 - Prob. 18CPCh. 10 - Prob. 19CPCh. 10 - Prob. 20CPCh. 10 - Prob. 21CPCh. 10 - Prob. 22CPCh. 10 - Prob. 23CPCh. 10 - Prob. 1TSCh. 10 - Prob. 2TSCh. 10 - Prob. 3TS
Knowledge Booster
Similar questions
- A offered to sell his automobile to B for P50,000. After inspecting the automobile, B offered to buy it for P50,000. This offer was accepted by A. The next day, A offered to deliver the automobile, but B, being short of funds, secured a postponement of the delivery, promising to pay A the price “upon arrival in this port of the steamer Helena.” The steamer, however, never arrived because it was wrecked somewhere off the coast of Samar. (a) Is there a perfected contract in this case? Why? (b) Is the promise to pay made by B conditional or with a term? Why? (c) Can A compel B to pay the purchase price and to accept the automobile? Why?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_forwardFrank is drunk and while laughing hysterically says to Hal "I will sell you my truck for a buck". Frank has made a valid offer. T or F and explainarrow_forward
- Facts: 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_forwardJim offered to buy James' porche motor vehicle. Jim gave James 2 weeks for an answer, two days after, Jane offered to sell her porche motor vehicle to Jim for which he was very excited to purchase because she had the latest model. Jim called James and told him personally that he is no longer interested in purchasing his porche. James is very upset because he was keen to sell. he is of the view that Jim cannot withdraw his offer because the 2 weeks has not elapsed. he knows that you are a business law student and sought your advice on the matter. Advise James. Will your answer be the same, if Jim failed to communicate to James within the two weeks that he no longer is interested in purchasing James' porche motor vehicle and James accepted on the last day of the end of the two weeks? Please answer using the IRAC model.arrow_forwardOn March 5, 2020, A wrote a letter to B offering to him the lease of a building. On March 6, 2020, at 1:00 P.M. sent a letter of acceptance which h was received by A at 4:00 P.M. that day. But at 2:00 P.M., A had already sent B a letter of withdrawal of the offer which was received by B at 5:00 P.M. Was the contract perfected ? Reasons?arrow_forward
- On December 16, Daniella sent a letter to Casper offering to sell her business to Casper for $400,000. On December 29, Daniella sent another letter to Casper that stated that she was withdrawing the offer. Casper received that letter on December 31. On December 30, Casper sent a letter to Daniella accepting the offer. Daniella received that letter of acceptance on January 3. Daniella refused to sell the business to Casper, claiming that no contract had been formed. Casper sued to enforce the contract against Daniella . Decide the probable outcome of the case.arrow_forwardSuppose Suzanne offered to sell you her boat on Wednesday for $2,000 and gives you until Friday at 9 am to accept the offer. You then find out on Thursday from another source that Suzanne has sold the boat to another person. If you accept the offer, can you sue Suzanne for breach of contract?arrow_forwardSmith was approached by a man who introduced himself as Brown of Brown & Co. Brown was not known to Smith, but Smith asked Dun & Bradstreet for a credit report and obtained a very favorable report on Brown. He thereupon sold Brown some expensive gems and billed Brown & Co. “Brown” turned out to be a clever jewel thief, who later sold the gems to Brown & Co. for valuable consideration. Brown & Co. was unaware of “Brown’s” transaction with Smith. Can Smith successfully sue Brown & Co. for either the return of the gems or the price as billed to Brown & Co.?arrow_forward
- on september 5 robert wrote to cameron offering to sell 50 metric tons of wheat at $250 per metric tonne. on september 7 cameron posted a reply in which he accepted robert’s offer but added that if he did not hear to the contrary he would assume that the price included delivery to his (cameron’s) warehouse. the following morning, before cameron’s letter arrived at robert’s office, robert read a posting on the internet which stated that the price of wheat was about to fall and he immediately sent an email to cameron stating ‘our price of $250 includes delivery’. on receiving robert’s email at 10am on september 8, cameron posted a letter to robert confirming his acceptance of robert’s terms. by mid-day, however, cameron also saw the posting on the internet which indicated that wheat prices were about to fall and, having considered the matter, sent an email to robert stating ‘i do not accept your offer of wheat’. the price of wheat fell to $230 per metric tonne and cameron refuses to…arrow_forwardJim offered to buy James’s Porsche motor vehicle. Jim gave James 2 weeks for an answer. Two days after, Jane offered to sell her Porsche motor vehicle to Jim for which he was very excited to purchase because she had the latest model. Jim called James and told him personally that he is no longer interested in purchasing his Porsche. James is very upset, because he was keen to sell. He is of the view that Jim cannot withdraw his offer because the two weeks has not elapsed. He knows that you are a business law student at Open Campus and sought your advice on the matter. Advise James. Will your answer be the same, if Jim failed to communicate to James within the two weeks that he no longer is interested in purchasing James’s Porsche motor vehicle and James accepted on the last day of the end of the two weeks? Required to use the IRAC* method to answerarrow_forwardJim offered to buy James’s Porsche motor vehicle. Jim gave James 2 weeks for an answer. Two days after, Jane offered to sell her Porsche motor vehicle to Jim for which he was very excited to purchase because she had the latest model. Jim called James and told him personally that he is no longer interested in purchasing his Porsche. James is very upset, because he was keen to sell. He is of the view that Jim cannot withdraw his offer because the two weeks has not elapsed. He knows that you are a business law student at Open Campus and sought your advice on the matter. Advise James.Will your answer be the same, if Jim failed to communicate to James within the two weeks that he no longer is interested in purchasing James’s Porsche motor vehicle and James accepted on the last day of the end of the two weeks?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Understanding BusinessManagementISBN:9781259929434Author:William NickelsPublisher:McGraw-Hill EducationManagement (14th Edition)ManagementISBN:9780134527604Author:Stephen P. Robbins, Mary A. CoulterPublisher:PEARSONSpreadsheet Modeling & Decision Analysis: A Pract...ManagementISBN:9781305947412Author:Cliff RagsdalePublisher:Cengage Learning
- Management Information Systems: Managing The Digi...ManagementISBN:9780135191798Author:Kenneth C. Laudon, Jane P. LaudonPublisher:PEARSONBusiness Essentials (12th Edition) (What's New in...ManagementISBN:9780134728391Author:Ronald J. Ebert, Ricky W. GriffinPublisher:PEARSONFundamentals of Management (10th Edition)ManagementISBN:9780134237473Author:Stephen P. Robbins, Mary A. Coulter, David A. De CenzoPublisher:PEARSON
Understanding Business
Management
ISBN:9781259929434
Author:William Nickels
Publisher:McGraw-Hill Education
Management (14th Edition)
Management
ISBN:9780134527604
Author:Stephen P. Robbins, Mary A. Coulter
Publisher:PEARSON
Spreadsheet Modeling & Decision Analysis: A Pract...
Management
ISBN:9781305947412
Author:Cliff Ragsdale
Publisher:Cengage Learning
Management Information Systems: Managing The Digi...
Management
ISBN:9780135191798
Author:Kenneth C. Laudon, Jane P. Laudon
Publisher:PEARSON
Business Essentials (12th Edition) (What's New in...
Management
ISBN:9780134728391
Author:Ronald J. Ebert, Ricky W. Griffin
Publisher:PEARSON
Fundamentals of Management (10th Edition)
Management
ISBN:9780134237473
Author:Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo
Publisher:PEARSON