Case 11-2 KE

Case 11-2 KE - the 30 days Schmidt dies. According to...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Case 11-2 A) Schmidt offers to sell Barry equipment for $10,000. Prior to the acceptance  acceptance is automatically terminated according to the operation of law; death  of the offeror or offeree. Schmidt’s offer is terminated when he dies. Barry is out  of luck. subject matter. An offer is terminated by destruction prior to the acceptance.  Barry’s acceptance after the fire doesn’t constitute a contract. C) Barry pays Schmidt $100 for a 30-day option to purchase equipment. During 
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: the 30 days Schmidt dies. According to revocation the offeree can accept the offer still as the estate can transfer the title. Barry can hold Schmidts estate to a contract for the equipment offer. D) Barry pays Schmidt $100 for a 30-day option to purchase equipment and during the time period Barry accepts within the time period. Schmidt dies not long after the acceptance. The deal is irrevocable since the contract was accepted within the period before Schmidts death. Barry gets the sale of the equipment....
View Full Document

This note was uploaded on 06/22/2010 for the course BUS 11111 taught by Professor Grubbs,j during the Spring '10 term at SFASU.

Ask a homework question - tutors are online