Please answer below for subject legal and ethical frameworks

1. Washington, decided that it was time to sell his car. However, he was not certain of its value and so, when he advertised the car, he left out the price. When Sam responded to the advertisement, he asked for the price. Washington responded by saying, 'Oh, I do not know. I guess a fair would be around a couple of thousand dollars. When Sam arrived the following day with $2000 for the car, Washington told him that he really meant $2500. Does a contract Exist?

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2. Kim and Tom, two young entrepreneurs wish to form a small proprietary limited company operate a restaurant 'Master Plate Pty Ltd'. On 22 January, Kim entered a contract with Irish Linen Ltd to purchase 18 monogrammed tablecloths and he executed the contract in the name of Master Plate Pty Ltd ('Master Plate').

On 24 January, the company was registered. The company did not adopt a constitution and each of them took 50% share, and both were appointed as directors. Due to dispute between Kim and Tom regarding the contract with Irish Linen Ltd, that contract was not ratified by Master Plate until 31 January. On February 1, tablecloths were supplied by Irish Linen Ltd but not paid.

Explain the answer in detail with relevant LAW

3. Advertisements in a daily newspaper Pioneer Homes Pty limited referred to land and house packages on payment of $1000 deposit and $120--$140 weekly repayments. The advertisement did not disclose that at some time between one and three years after the settlement date, long-term finance would be submitted for the temporary finance, and that repayments could be expected to rise to just above$ 300 per week. Does the advertisement contravene the ACL? If they do, which section and why?

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4. Acme Imports Limited imports and markets a baby formula called Infant milk. The formula is wholly manufactured and packaged in China. To 'Bulk up' the purported protein content of the formula the manufacturer included melamine as an ingredient in the formula. Melamine is a compound used in the manufacture of plastics; if consumed by humans, it can cause serious medical problems with the kidneys and bladder and in severe cases kidney failure. Mary

purchased a tin of Infant milk from Family Store Ltd. Soon after, her baby became severely ill. Eventually, Mary's doctor traced the problem to a form of poisoning by the baby formula. Unfortunately, the baby's kidneys were so damaged she will have severe kidney problems for the rest of her life. Advise Mary.

Explain the answer in detail with relevant LAW