393.EXAM.MIDTERMANSW.MARCH2008

393.EXAM.MIDTERMANSW.MARCH2008 - COMMERCE 393/BUSI 393...

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COMMERCE 393/BUSI 393 MIDTERM ANSWER GUIDE MARCH 2008 QUESTION #1 a) Is there a contract between the Boilers and Pylonder? The basis of a contract is offer and acceptance. The Boilers made Pylonder an offer in their letter of Feb. 1. Pylonder made a counteroffer to the Boilers on Feb. 4. The Boilers made Pylonder a counteroffer in their letter of Feb. 10, and it was open till Feb. 17. Pylonder accepted in his letter sent Feb. 17, which the Boilers received Feb. 20. When was acceptance effective? According to the postal acceptance rule, when it is reasonable to accept by mail, acceptance is effective when sent. Here is was reasonable to accept by mail because the other communication had been by mail. Acceptance was effective Feb. 17, when Pylonder mailed his letter, so he met the deadline. Does it matter that Pylonder did not sign his letter of Feb. 17. Only contracts to do with land and personal guarantees need to be in writing and signed. It does not matter that he did not sign the letter.
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This note was uploaded on 05/31/2011 for the course COMM 393 taught by Professor Elaine during the Fall '10 term at The University of British Columbia.

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393.EXAM.MIDTERMANSW.MARCH2008 - COMMERCE 393/BUSI 393...

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