Chpt 4 HW - Garrett Barnes Intl Bus Law Chapt 4 1. What is...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Garrett Barnes Intl Bus Law Chapt 4 1. What is a valid contract and what are the essential elements for a binding contract? Is an agreement that contains all of the essential elements and meets all the requirements of a binding contract. The sales contract is universally recognized as the legal mechanism for conducting trade in goods. The contract for purchase and sale embodies the agreement of the parties, the buyer and seller. The contract is essential because it sets out rights and liabilities that may extend well into the future. 2. A computer printer distributor in Argentina receives an offer by mail from Epson, a US company, in reply to an inquiry. The offer arrives in Argentina on June 2. One June 12, the Argentinean company sends its acceptance by mail. On June 8, Epson sends a revocation of the offer that was received on June 13 in Argentina. The acceptance from Argentina arrives in the US on June 17. Did a valid contract arise? When was the offer valid? When was the
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 2

Chpt 4 HW - Garrett Barnes Intl Bus Law Chapt 4 1. What is...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online