Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

At 9.00 am on Thursday 13 Aug, Mary, a car dealer sends a telex to Austin offering to sell him a rare vintage car for

At 9.00 am on Thursday 13 Aug, Mary, a car dealer sends a telex to Austin offering to sell him a rare vintage car for $50,000. Austin receives the telex at 9.15am and telexes his acceptance at 1.00pm.

Austin is aware that Mary's office is closed for lunch between 1.00 and 2.00pm.

On her return to the office, Mary does not bother to check if she received a telex from Austin and at 2.30pm receives an offer for the car from Ford, which she accepts.

At 4.00pm Austin hears from another car dealer that Mary has sold the car to Ford.

he is advised that it will cost him an additional $2,000 to buy a similar car and he immediately sends Mary another telex demanding that the original car be sold to him. Mary receives this telex at 5.00pm, at the same time as she read the acceptance telex.

Advise Austin of his legal position and what remedies, if any are open for him.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

Organize and support your main points

Answered: 1 week ago

Question

Move smoothly from point to point

Answered: 1 week ago

Question

Outlining Your Speech?

Answered: 1 week ago