Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ponch wants to sell his old motorcycle. On Monday, he mails a letter offering the bike to Baker for $ 3 , 0 0 0

Ponch wants to sell his old motorcycle. On Monday, he mails a letter offering the bike to Baker for $3,000 and tells Baker to come to his house before Friday at noon with cash in hand if he wants the bike. Baker receives the letter Wednesday and immediately mails a reply letter saying, Sold! Ill be at your house Friday at 11:00 a.m. with $3,000 in hand.
Ponch sees Clark on Thursday at Lucys Drive In and tells her hes selling the bike. Clark offers Ponch $3,000 in cash for immediate delivery of the bike. Ponch accepts. Friday morning, Bakers letter arrives in the mail at 10:00 a.m. and Baker shows up with $3,000 at 11:00 to pick up the Bike. Ponch apologizes, but says he sold the bike yesterday to Clark
Baker is very upset and sues both Ponch and Clark seeking to obtain the bike. On these facts, who is most likely to wind up with the bike when the litigation is over?
Group of answer choices
Clark
Baker
Ponch
There is not enough information given to determine who is likely to wind up with the bike

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

Strategic management concepts

Authors: Fred david

13th Edition

9780136120988, 136120997, 136120989, 978-0136120995

More Books

Students also viewed these General Management questions