Using IRAC method to answer the case study

You will need to respond to the case using the IRAC (Issue, Rule, Application and Conclusion) method. As such you will be required to:

• Read and analyse the case
• Identify the issue/s
• Research appropriate relevant law / rules
• Explain the rule pertaining to the case/issue
• Apply the rules to the case
• Provide a brief conclusion of the likely outcome.

Case study:

Mary decided to sell her car, and on Monday 1st May, she tells her friend Joanne:

"Do you want to buy my car for $15,000? Take a few days to think about it. I need to know by the end of the week"

On Tuesday 2nd May, Joanne telephones Mary and says:

"I can't afford $15,000 at the moment, all I can afford to pay is $14,500. Will you take this for it?"

On 3rd May, Mary sells her car to Michael.

On the 4th May, Joanne calls Mary back and tells her:

"My mum has lent me $500, and now I have the full $15,000, and would like to buy the car for the price you asked for on Monday".

Mary responds and tells Joanne:

"Sorry, I sold the car to someone yesterday".