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Bus5 Chapter 5 Hw

Bus5 Chapter 5 Hw - reasonable necessary for the offeree to...

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Exercise One: 1. Unless there is a prove that the he is believing that offer do exists. If not the offeror will not have the responsibilities on that. Which means the offer is not valid. 2. The offeror would be informed by the offeree with the specific terms and detail. In that case the offer is intended. Exercise Two: a. An offer would be irrevocable if the offeror agreed to keep the offer open for a time period, which is a option contract. -Factual example: Jones, in exchange for $5,000, agrees to give Dewy Development Co. a six-month option to purchase her farm for $550,000. In this situation, Jones would not be free to revoke the offer during the six-month period of the option. b. Unilateral Contract Offers. -Factual example: “If you mow my lawn, I’ll pay you $25.” The offeror can’t say I revoke when the offeree is almost finished mowing the lawn. Onces the offeree has begun to perform, the offeror’s power to revoke is suspended for the amount of time
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Unformatted text preview: reasonable necessary for the offeree to complete performance. Another approach to the unilateral contract dilemma is to hold that a bilateral contract is created once the offeree begins performance. c. Firm offer.-Factual example: A company makes an offer to B company that to sell a certain amount of items to B company, and the offer will be kept open for 2 year. But A company have the right to revoke it after three months if B company hasn’t accept it yet. But if B company accept it then it’s a regular contracted offer already. d. Promissory estoppel.-Factual example: UCLA promised to accept me as a professor and willing to hold the offer for 20 days. After I have finished all my existing work and left my current job on day 10 UCLA called and say the revoked the offer. It’s not going to work that way....
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