Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please answer as soon as possible Case #1: Several years ago, Wayne had purchased a Fender electric guitar. Unfortunately, his lack of talent and unwillingness

Please answer as soon as possible

image text in transcribed
Case #1: Several years ago, Wayne had purchased a Fender electric guitar. Unfortunately, his lack of talent and unwillingness to practice got in the way of his dream of becoming a rock star. Last Saturday, his friend Garth was visiting Wayne's house and noticed the guitar in his basement (it had not been played for years). Garth could not believe his luck; he had found a classic Telecaster that was in "mint" condition. Garth offered to purchase the guitar from his friend. Wayne agreed and wrote up the contract: "I offer to sell you my vintage Fender Telecaster. You must accept this offer in writing, and I must receive payment in cash before 5 p.m. on Wednesday." Garth signed accept the offer and left. He returned to Wayne's house on Tuesday evening with about $500 in cash. Wayne answered the door and told him that unfortunately, the guitar was "no longer available" as he had had decided to trade it in on a new set of drums at the local music shop. Garth was very upset. "We had a contract" Garth shouted. Was he right? #2 Ananya loved her new life in Canada; however, she had come too hate winter! In particular, she dreaded the thought of having to shovel snow from her driveway and walkway. One day, in early November, Pete from Peter's Number 1 Landscaping, knocked on her door and offered a pre-paid "snow removal service" that would ensure that her driveway and walkway would be cleared whenever it snowed. Ananya expressed her interest in the service and Pete handed her a contract to sign. Ananya quickly looked at the contract but was not happy with the price - $1,400 ($350 per month for December = March). Ananya ran back inside to find a pen and when she returned, she handed Pete the contract with $1,400 crossed out. She had written in the number $1,000 and placed her initials next to it. Who is the offeror? Who is the offeree? Explain. Caca

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

Recommended Textbook for

Company Law

Authors: Janet Dine, Marios Koutsias

9th Edition

1352010003, 978-1352010008

More Books

Students also viewed these Law questions

Question

Were the participants sensitized by taking a pretest?

Answered: 1 week ago