Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On the 2nd of April, an announcement appears in the newspapers to the effect that shares in Get Rich Ltd, a gold exploration company, may

On the 2nd of April, an announcement appears in the newspapers to the effect that shares in Get Rich Ltd, a gold exploration company, may be subscribed for 5 each.

Later that day, Gunther sees the announcement and fills in the application form in the newspaper requesting 1,000 shares. His application is received by Get Rich Ltd on the following day. The Company Secretary promptly sends the share certificates to Gunther by the morning post on the same day. However, Gunther changes his mind and on the same afternoon (the 3rd), he posts a letter, withdrawing his application to Get Rich Ltd.

During the day, a rich seam of gold is discovered by Get Rich Ltd in Cumbria. The Company Secretary telephones Gunther informing him that they do not wish to accept his application and would like him to return the certificates as soon as they arrive.

By the time he receives the Secretary's request, Gunther has heard of the gold discovery and wishes to buy the shares after all.

Advise Gunther.

Please describe up to one thousand five hundred word. Please add relevant cases. thank you

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_2

Step: 3

blur-text-image_3

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

Elliott And Quinns Contract Law

Authors: Frances Quinn

12th Edition

1292251409, 978-1292251400

More Books

Students also viewed these Law questions

Question

1. Too understand personal motivation.

Answered: 1 week ago