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

Question

Want to see more full solutions like this?

Answer 1

Question

Chapter 12, Problem 1RE

Summary Introduction

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

To explain: Whether the bid of the person A met with the offer’s requirements.

Expert Solution & Answer

Explanation of Solution

In this particular case, there is no offer because the terms of the offer have to be reasonably fixed or definite so that they are clear to both the parties. A bid can be also called an offer, if all the essentials of the offer are met. But in the given case, the price, materials, and the starting date of the probable contract are not clearly mentioned. So, this case cannot fall under the purview of an offer as all the requirements of the offer are not fulfilled.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

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…

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…

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…

Answer 2

Question

Chapter 12, Problem 1RE

Summary Introduction

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

To explain: Whether the bid of the person A met with the offer’s requirements.

Expert Solution & Answer

Explanation of Solution

In this particular case, there is no offer because the terms of the offer have to be reasonably fixed or definite so that they are clear to both the parties. A bid can be also called an offer, if all the essentials of the offer are met. But in the given case, the price, materials, and the starting date of the probable contract are not clearly mentioned. So, this case cannot fall under the purview of an offer as all the requirements of the offer are not fulfilled.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 12, Problem 1RE

Summary Introduction

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

To explain: Whether the bid of the person A met with the offer’s requirements.

Expert Solution & Answer

Explanation of Solution

In this particular case, there is no offer because the terms of the offer have to be reasonably fixed or definite so that they are clear to both the parties. A bid can be also called an offer, if all the essentials of the offer are met. But in the given case, the price, materials, and the starting date of the probable contract are not clearly mentioned. So, this case cannot fall under the purview of an offer as all the requirements of the offer are not fulfilled.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 12, Problem 1RE

Summary Introduction

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

To explain: Whether the bid of the person A met with the offer’s requirements.

Expert Solution & Answer

Explanation of Solution

In this particular case, there is no offer because the terms of the offer have to be reasonably fixed or definite so that they are clear to both the parties. A bid can be also called an offer, if all the essentials of the offer are met. But in the given case, the price, materials, and the starting date of the probable contract are not clearly mentioned. So, this case cannot fall under the purview of an offer as all the requirements of the offer are not fulfilled.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 12, Problem 1RE

Summary Introduction

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

To explain: Whether the bid of the person A met with the offer’s requirements.

Expert Solution & Answer

Explanation of Solution

In this particular case, there is no offer because the terms of the offer have to be reasonably fixed or definite so that they are clear to both the parties. A bid can be also called an offer, if all the essentials of the offer are met. But in the given case, the price, materials, and the starting date of the probable contract are not clearly mentioned. So, this case cannot fall under the purview of an offer as all the requirements of the offer are not fulfilled.

Answer 6

Chapter 12, Problem 1RE

Summary Introduction

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

To explain: Whether the bid of the person A met with the offer’s requirements.

Expert Solution & Answer

Explanation of Solution

In this particular case, there is no offer because the terms of the offer have to be reasonably fixed or definite so that they are clear to both the parties. A bid can be also called an offer, if all the essentials of the offer are met. But in the given case, the price, materials, and the starting date of the probable contract are not clearly mentioned. So, this case cannot fall under the purview of an offer as all the requirements of the offer are not fulfilled.

Answer 7

Chapter 12, Problem 1RE

Summary Introduction

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

To explain: Whether the bid of the person A met with the offer’s requirements.

Answer 8

Expert Solution & Answer

Explanation of Solution

In this particular case, there is no offer because the terms of the offer have to be reasonably fixed or definite so that they are clear to both the parties. A bid can be also called an offer, if all the essentials of the offer are met. But in the given case, the price, materials, and the starting date of the probable contract are not clearly mentioned. So, this case cannot fall under the purview of an offer as all the requirements of the offer are not fulfilled.