Morty responded to an advertisement placed by Rick in a local newspaper. Rick was looking for business investments, and Morty sent him a letter on October Ist which said that he was willing to make Rick a partner in his space exploration business it Rick was willing to put up $5,000. Rick received that letter on October 6th and wrote back the same day saying he would love to get involved in the business and would send Morty a certified cheque for $5,000 as soon as the bank had transferred the money from his savings account and certified the cheque. This letter was received by Morty on October 9th, and the certified cheque was sent on October 8th and received on October 12th, Meanwhile, Morty mentioned the advertisement to Summer, and she said she would like to get into the business and would be willing to put up $8,000. Morty sent another letter to Serge, on October 4th, which Rick received on October 7th, saying Morty has changed his mind and would not be willing to have Rick as a partner. Do Morty and Rick have a contract? Or is Morty free to enter into a partnership with Summer instead? (assume that he cannot have a contract with both, Rick and Summer) (HINT: For this question, you may find it useful to organize the events in chronological order. Think about the different rules associated with different methods of communication we discussed in class in relation to contract formation - but remember that these are "default" rules that can be modified by the parties!) OG Rick and Morty have a contract - Morty is not free to enter into the same contract with Summer. The contract was fully formed when Morty sent the October ist letter, per the mailbox rule. Morty cannot revoke the offer after October Isti O b. Rick and Morty do not have a contract - Morty is free to enter into a contract with Summer instead. The contract could have only formed formed when Morty received Rick's the letter of acceptance in the mail on October 9th, per the mailbox rule. The revocation was effective because it was communicated to Rick until October 7th, which was within the time limit. OC Rick and Morty have a contract - Morty is not free to enter into the same contract with Summer. The contract was formed when Rick put the letter of acceptance in the mail on October 6th nor thom la Thor OG Rick and Morty have a contract - Morty is not free to enter into the same contract with Summer. The contract was fully formed when Morty sent the October Ist letter, per the mailbox rule. Morty cannot revoke the offer after October 1st. O b. Rick and Morty do not have a contract - Morty is free to enter into a contract with Summer instead. The contract could have only formed formed when Morty received Rick's the letter of acceptance in the mail on October 9th, per the mailbox rule. The revocation was effective because it was communicated to Rick until October 7th, which was within the time limit. Oc Rick and Morty have a contract - Morty is not free to enter into the same contract with Summer. The contract was formed when Rick put the letter of acceptance in the mail on October 6th, per the mailbox rule. The revocation was ineffective because it was not communicated to Rick until October 7th, which was too late Od Rick and Morty do not have a contract - Morty is free to enter into a contract with Summer instead. Morty is the offeror, and the offeror is the master of an offer, so he can revoke it at any time regardless of when Rick sent his acceptance, Morty responded to an advertisement placed by Rick in a local newspaper. Rick was looking for business investments, and Morty sent him a letter on October ist which said that he was willing to make Rick a partner in his space exploration business if Rick was willing to put up $5,000. Rick received that letter on October 6th and wrote back the same day saying he would love to get involved in the business and would send Morty a certified cheque for $5,000 as soon as the bank had transferred the money from his savings account and certified the cheque. This letter was received by Morty on October 9th, and the certified cheque was sent on October 8th and received on October 12th. Meanwhile, Morty mentioned the advertisement to Summer, and she said she would like to get into the business and would be willing to put up $8,000. Morty sent another letter to Serge, on October 4th, which Rick received on October 7th, saying Morty has changed his mind and would not be willing to have Rick as a partner. FOR THIS QUESTION ONLY, suppose Morty's letter of October ist has said that there would be no commitment by him to any arrangement with Rick unless and until he received Rick's certified cheque for $5,000. Would this change your answer to the previous question? Do Morty and Rick have a contract? Or is Morty free to enter into a partnership with Summer instead? (assume that he cannot have a contract with both, Rick and Summer) (HINT. For this question, you may find it useful to organize the events in chronological order. Think about the different rules associated with different methods of communication we discussed in class in relation to contract formation - but remember that these are "default" rules that can be modified by the parties!) O a. In this case, the revocation is not effective, and therefore Morty is not free to enter into a contract with Summer instead. The offeree is the master of acceptance, so Rick is free to accept Morty's offer with whatever conditions Rick wants to impose, as long as he nature of the deal remains unchanged. ob In this case, the revocation is not effective, and therefore Morty is not free to enter into a contract with Summer instead. Morty cannot avoid the application of the mailbox rule simply by making up his own conditions, so Rick's acceptance was deemed to have been given on October 6th anyway, making the October 7th revocation ineffective. O a. In this case, the revocation is not effective, and therefore Morty is not free to enter into a contract with Summer instead. The offeree is the master of acceptance, so Rick is free to accept Morty's offer with whatever conditions Rick wants to impose, as long as he nature of the deal remains unchanged. ob. In this case, the revocation is not effective, and therefore Morty is not free to enter into a contract with Summer instead. Morty cannot avoid the application of the mailbox rule simply by making up his own conditions, so Rick's acceptance was deemed to have been given on October 6th anyway, making the October 7th revocation ineffective. Oc. In this case, the revocation is effective, and therefore Morty is free to enter into a contract with Summer instead. Here, the offer contains a term that avolds the application of the mailbox rule. There can be no deemed acceptance when Serge mails his acceptance since the terms of the offer are that acceptance is effective only when the cheque is received. Since the revocation is received by Serge on October 7th, but the certified cheque does not reach Mario until October 12th, the revocation is effective and there is no contract Od. In this case, the revocation is effective, and therefore Morty is free to enter into a contract with Summer instead. When an offer is made conditional on receiving payment, that offer can be revoked at ANY time, even after payment is received. Morty responded to an advertisement placed by Rick in a local newspaper. Rick was looking for business investments, and Morty sent him a letter on October Ist which said that he was willing to make Rick a partner in his space exploration business it Rick was willing to put up $5,000. Rick received that letter on October 6th and wrote back the same day saying he would love to get involved in the business and would send Morty a certified cheque for $5,000 as soon as the bank had transferred the money from his savings account and certified the cheque. This letter was received by Morty on October 9th, and the certified cheque was sent on October 8th and received on October 12th, Meanwhile, Morty mentioned the advertisement to Summer, and she said she would like to get into the business and would be willing to put up $8,000. Morty sent another letter to Serge, on October 4th, which Rick received on October 7th, saying Morty has changed his mind and would not be willing to have Rick as a partner. Do Morty and Rick have a contract? Or is Morty free to enter into a partnership with Summer instead? (assume that he cannot have a contract with both, Rick and Summer) (HINT: For this question, you may find it useful to organize the events in chronological order. Think about the different rules associated with different methods of communication we discussed in class in relation to contract formation - but remember that these are "default" rules that can be modified by the parties!) OG Rick and Morty have a contract - Morty is not free to enter into the same contract with Summer. The contract was fully formed when Morty sent the October ist letter, per the mailbox rule. Morty cannot revoke the offer after October Isti O b. Rick and Morty do not have a contract - Morty is free to enter into a contract with Summer instead. The contract could have only formed formed when Morty received Rick's the letter of acceptance in the mail on October 9th, per the mailbox rule. The revocation was effective because it was communicated to Rick until October 7th, which was within the time limit. OC Rick and Morty have a contract - Morty is not free to enter into the same contract with Summer. The contract was formed when Rick put the letter of acceptance in the mail on October 6th nor thom la Thor OG Rick and Morty have a contract - Morty is not free to enter into the same contract with Summer. The contract was fully formed when Morty sent the October Ist letter, per the mailbox rule. Morty cannot revoke the offer after October 1st. O b. Rick and Morty do not have a contract - Morty is free to enter into a contract with Summer instead. The contract could have only formed formed when Morty received Rick's the letter of acceptance in the mail on October 9th, per the mailbox rule. The revocation was effective because it was communicated to Rick until October 7th, which was within the time limit. Oc Rick and Morty have a contract - Morty is not free to enter into the same contract with Summer. The contract was formed when Rick put the letter of acceptance in the mail on October 6th, per the mailbox rule. The revocation was ineffective because it was not communicated to Rick until October 7th, which was too late Od Rick and Morty do not have a contract - Morty is free to enter into a contract with Summer instead. Morty is the offeror, and the offeror is the master of an offer, so he can revoke it at any time regardless of when Rick sent his acceptance, Morty responded to an advertisement placed by Rick in a local newspaper. Rick was looking for business investments, and Morty sent him a letter on October ist which said that he was willing to make Rick a partner in his space exploration business if Rick was willing to put up $5,000. Rick received that letter on October 6th and wrote back the same day saying he would love to get involved in the business and would send Morty a certified cheque for $5,000 as soon as the bank had transferred the money from his savings account and certified the cheque. This letter was received by Morty on October 9th, and the certified cheque was sent on October 8th and received on October 12th. Meanwhile, Morty mentioned the advertisement to Summer, and she said she would like to get into the business and would be willing to put up $8,000. Morty sent another letter to Serge, on October 4th, which Rick received on October 7th, saying Morty has changed his mind and would not be willing to have Rick as a partner. FOR THIS QUESTION ONLY, suppose Morty's letter of October ist has said that there would be no commitment by him to any arrangement with Rick unless and until he received Rick's certified cheque for $5,000. Would this change your answer to the previous question? Do Morty and Rick have a contract? Or is Morty free to enter into a partnership with Summer instead? (assume that he cannot have a contract with both, Rick and Summer) (HINT. For this question, you may find it useful to organize the events in chronological order. Think about the different rules associated with different methods of communication we discussed in class in relation to contract formation - but remember that these are "default" rules that can be modified by the parties!) O a. In this case, the revocation is not effective, and therefore Morty is not free to enter into a contract with Summer instead. The offeree is the master of acceptance, so Rick is free to accept Morty's offer with whatever conditions Rick wants to impose, as long as he nature of the deal remains unchanged. ob In this case, the revocation is not effective, and therefore Morty is not free to enter into a contract with Summer instead. Morty cannot avoid the application of the mailbox rule simply by making up his own conditions, so Rick's acceptance was deemed to have been given on October 6th anyway, making the October 7th revocation ineffective. O a. In this case, the revocation is not effective, and therefore Morty is not free to enter into a contract with Summer instead. The offeree is the master of acceptance, so Rick is free to accept Morty's offer with whatever conditions Rick wants to impose, as long as he nature of the deal remains unchanged. ob. In this case, the revocation is not effective, and therefore Morty is not free to enter into a contract with Summer instead. Morty cannot avoid the application of the mailbox rule simply by making up his own conditions, so Rick's acceptance was deemed to have been given on October 6th anyway, making the October 7th revocation ineffective. Oc. In this case, the revocation is effective, and therefore Morty is free to enter into a contract with Summer instead. Here, the offer contains a term that avolds the application of the mailbox rule. There can be no deemed acceptance when Serge mails his acceptance since the terms of the offer are that acceptance is effective only when the cheque is received. Since the revocation is received by Serge on October 7th, but the certified cheque does not reach Mario until October 12th, the revocation is effective and there is no contract Od. In this case, the revocation is effective, and therefore Morty is free to enter into a contract with Summer instead. When an offer is made conditional on receiving payment, that offer can be revoked at ANY time, even after payment is received