TRAN BA TUNG (2)

TRAN BA TUNG (2) - Student Code: E0800022 Raymond wished to...

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Student Code: E0800022 Raymond wished to sell his shop in Ipoh, Malaysia to James. On 5 th May 2007, he called James from Singapore and offered to sell his shop to James at RM600, 000 .James asked Raymond: “The price is a bit expensive. Is it possible to reduce the price a bit because I do not have enough money to pay the deposit as I bought a new car?” Raymond then replied: “I believe the price is not negotiable as I offered it lower than the market value .The market value is RM700, 000” On 7 th May 2007, James posted his letter of acceptance to Raymond at 10.00am at a Post-office in Ipoh. On the same day, at 10.01, Raymond sent a sms (short message services) to James revoking his offer. Advise both parties. A contract has value when it satisfies elements such as offer, acceptance and consideration. This case shows that Raymond is a party who wished to sell his shop to James (other party). Raymond offered to sell his shop to James. Therefore, offer is beginning to take share in parties. They have negotiation which is the process of offer by means of telephone. The word “offer” is define in section 2(a) of the contract Act 1950 as, “When one person signifies to another his willingness to do or to abstain from doing any thing, with a view to obtaining the assent of that other to the act or abstinence, he is said to make a proposal”. Moreover, this is an offer because an offer (Raymond) must be a define promise to be
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TRAN BA TUNG (2) - Student Code: E0800022 Raymond wished to...

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