Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Wolcott and Sarah, both merchants and residents of Gainesville, Florida, aspire to enter into a contract with each other for the sale/purchase of goods. After

Wolcott and Sarah, both merchants and residents of Gainesville, Florida, aspire to enter into a contract with each other for the sale/purchase of goods. After Wolcott makes an offer to Sarah, Sarah responds with a written confirmation of acceptance; however, this written confirmation of acceptance states additional terms that are not present in Wolcott's offer. Nevertheless, Wolcott's offer did not expressly limit acceptance to the terms of his offer and Sarah's additional terms do not materially alter Wolcott's offer. If Wolcott does not give notification of objection to Sarah's terms within a reasonable time, which of the following will occur?

O Due to the Mirror Image Rule, a contract is not founded until both Wolcott and Sarah agree to the same exact

terms.

O Wolcott and Sarah must turn to common law principles, which are used to settle disputes between merchants.

O Sarah's additional terms constitute a rejection of Wolcott's offer and therefore create a new offer entirely.

O Due to Wolcott's failure to give notification of objection to Sarah's terms within a reasonable time, Sarah's

terms will become part of the contract.

O Due to Sarah's written confirmation of acceptance, the offer as provided by Wolcott will be solidified as the

legally binding contract.

image text in transcribed
Wolcott and Sarah, both merchants and residents of Gainesville, Florida, aspire to enter into a contract with each other for the sale/purchase of goods. After Wolcott makes an offer to Sarah, Sarah responds with a written confirmation of acceptance; however, this written confirmation of acceptance states additional terms that are not present in Wolcott's offer. Nevertheless, Wolcott's offer did not expressly limit acceptance to the terms of his offer and Sarah's additional terms do not materially alter Wolcott's offer. If Wolcott does not give notification of objection to Sarah's terms within a reasonable time, which of the following will occur? Due to the Mirror Image Rule, a contract is not founded until both Wolcott and Sarah agree to the same exact terms. Wolcott and Sarah must turn to common law principles, which are used to settle disputes between merchants. Sarah's additional terms constitute a rejection of Wolcott's offer and therefore create a new offer entirely. Due to Wolcott's failure to give notification of objection to Sarah's terms within a reasonable time, Sarah's terms will become part of the contract. Due to Sarah's written confirmation of acceptance, the offer as provided by Wolcott will be solidified as the legally binding contract

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

Winning The Losers Game Timeless Strategies For Successful Investing

Authors: Charles D. Ellis

5th Edition

0071545492,0071545506

More Books

Students also viewed these Finance questions

Question

=+ How much will the policy cost Beth?

Answered: 1 week ago

Question

Explain all drawbacks of application procedure.

Answered: 1 week ago