Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Gary is interested in buying a set of drums from Daniel. Negotiations are conducted between Gary and Daniel by way of face-to-face conversations, telephone conversations

Gary is interested in buying a set of drums from Daniel. Negotiations are conducted between Gary and Daniel by way of face-to-face conversations, telephone conversations and correspondence. Finally, on 1 June, Daniel advises Gary that he is prepared to offer the drums for sale at $2,000 and that, if Gary wishes to accept, his acceptance must be communicated to Daniel by 14 June. At 9 am on 13 June, Gary replies by mail accepting the offer. At 4 pm on the same day, Daniel telephones Gary and advises that he wishes to withdraw the offer because Craig has offered him a higher price for the drums. Daniel receives Gary's letter of acceptance on 14 June. If Gary wishes to accept the offer made by Daniel on 1 June, he must accept by:

a.the mode in which the offer was made

b.a communication by mode of mail only

c.instantaneous communication

d.any means as long as it reaches Daniel by the set time

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Recommended Textbook for

Cost Accounting A Managerial Emphasis

Authors: Horngren, Srikant Datar, George Foster, Madhav Rajan, Christ

6th Canadian edition

978-0132893534, 9780133389401, 132893533, 133389405, 978-0133392883

More Books

Students also viewed these Law questions