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3. Richie is a powerful Vancouver developer who owns a several commercial properties throughout the city. He decides to lease a commercial space to his
3. Richie is a powerful Vancouver developer who owns a several commercial properties throughout the city. He decides to lease a commercial space to his long time friend, Albert who is now a successful corporate lawyer. On October 1, 2012, they both were negotiating the terms of the lease at their favorite Ramen restaurant. Richie offered Alb to lease the commercial space for $5000.00 a month for 10 years. While drinking his green tea, Albert said to Richie whether he would be willing take a lower month fee for the lease. Richie thinks about and says "NO!" Albert then says, "FINE", I accept your terms at $5,000.00 a month". a) Are the circumstances above a legally enforceable offer and acceptance? Why or why not? (2.5 marks)
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