Question
Can you explain this case in two to three paragraphs ,with at least 3 cases to support your explanation please. On Monday 1st May, an
Can you explain this case in two to three paragraphs ,with at least 3 cases to support your explanation please.
On Monday 1st May, an advertisement appeared in a newspaper called the Money
Times. It advertised a sale of shares in Goldspec plc. (Goldspec), a gold mining
company. Daria saw the advertisement on the day of its publication. She immediately
completed the application form contained in the advertisement, and posted her request for
10,000 shares at 1 per share. Together with the application form, she enclosed her
cheque for 10,000. Darias application form and cheque were received by Simon,
Goldspecs company secretary, on Wednesday 3rd May. Simon sent the share certificates
by post to Daria on the same morning.
During the night of Monday 1st May, Daria began to have doubts about the wisdom of
her purchase. On Tuesday 2nd May, she sent a letter to Goldspecs Company secretary,
withdrawing her offer to purchase the shares. On Thursday 4th May, it was reported in
the press that Goldspec had discovered a major new seam of gold in one of its South
African mines. That evening, Simon attempted to telephone Daria to inform her that
Goldspec no longer wanted to accept her application for the purchase of shares. Daria
was not available and so Simon left a message on her telephone answering machine,
stating that Goldspec withdrew its acceptance of her application and that the company
required her to return the share certificates as soon as she received them.
Daria heard about Goldspecs discovery of a new seam of gold on the 6 oclock news
that evening. She consequently decided to proceed with the purchase of the shares.
Darias letter purporting to revoke her offer of 1st May was received by Simon on Friday
5th May at 9.00 am. At 10.00 am (on Friday) Daria received her share certificates in the
post. At 10.30 am she heard Simons demand for the return of the share certificates on
her telephone answering machine.
Advise Daria as to whether she is entitled to keep the 10,000 Goldspec shares.
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