1. A brief restatement of the legal question posedusually a sentence or two that focus on the specific legal issuein this case, without reference to extraneous facts or information.
2. A statement of the applicable law or rule that should be applied to the facts in this case. This will be taken from the text and will not consist of an opinion or ethical reaction, but rather be a statement (usually only one or two sentences) that summarizes the rule of law that you will apply to come to a correct answer. You should not restate the law in its entirety, but instead summarize the appropriate law into a short explanation of the ruling principle in this case.
3. Finally, a clear statement that explains how you applied the applicable law to these facts to reach a specific conclusion. This will usually be a few sentences culminating in an answer to the specific question posed in the text. This portion of your answer should demonstrate original thinking and reasoning, and result in a definite conclusion.

1. QUESTIONS

ch.12, 1, Bernie and Phil's Great American Surplus store placed an ad in the Sunday Times stating, "Next Saturday at 8:00 A.M. sharp, 3 brand new mink coats worth $5,000 each will be sold for $500 each! First come, first served." Marsha Lufklin was first in line when the store opened and went directly to the coat department, but the coats identified in the ad were not available for sale. She identified herself to the manager and pointed out that she was first in line in conformity with the store's advertised offer and that she was ready to pay the $500 price set forth in the store's offer. The manager responded that a newspaper ad is just an invitation to negotiate and that the store decided to withdraw "the mink coat promotion." Review the text on unilateral contracts in the

section titled "Bilateral and Unilateral Contracts"

in Chapter 11. Decide.

3, Katherine mailed Paul an offer with definite and certain terms and that was legal in all respects stating that it was good for 10 days. Two days later she sent Paul a letter by certified mail (time stamped by the Postal Service at 1:14 P.M.) stating that the original offer was revoked. That evening Paul e-mailed acceptance of the offer to Katherine. She immedi- ately phoned him to tell him that she had revoked the offer that afternoon, and that he would surely receive it in tomorrow's mail. Was the offer revoked by Katherine?

11. Buster Cogdill, a real estate developer, made an offer to the Bank of Benton to have the bank provide construction financing for the development of an outlet mall, with funds to be provided at prime rate plus two percentage points. The bank's president Julio Plunkett thanked Buster for the proposal and said, "I will start the paperwork." Did Cogdill have a contract with the Bank of Benton? [Bank of Benton v. Cogdill, 454 N.E.2d 1120 (Ill. App.)]

Text: Twomey, David and Marianne Moody Jennings,Business Law: Principles for Today's Commercial Environment,West Legal Studies in Business, 2017, 5th edition.