Business Law hw ch 13

Business Law hw ch 13 - Baker also has the right to reject...

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Rolando Hernandez 03/22/10 Law 1 Prof. Ellis Pg. 275 #’s 1,3,4,9 1.A unilateral contract is one in which one party is obligated to perform after an action has been made. Since the offer was made in a newspaper ad, it is therefore open to anyone who wishes to accept it. However, the offer was withdrawn before Marsha Lufklin could accept it. Thus, Phil’s Great American Surplus store holds the right to revoke an offer so there is no violation. 3. The offer was not revoked. Since, Paul had not yet received Katherine’s letter stating that she revoked her original10 day offer, the offer is still in effect. A letter revoking an offer to a particular offeree is not effective until received by the offeree. 4. Baker did not breach the contract because Nelson altered his original offer.
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Unformatted text preview: Baker also has the right to reject his offer at any time. Nelson violated the ethical value of honesty by creating a new offer and stating that Baker should accept it as his own. This is considered forgery on Nelson’s part. The social forc involved in this situation are trust, which was not upheld by Nelson. Nelson basically made up his own offer and expected Baker to have to accept it, which is completely unreasonable. 9. The Zehmers were not correct. By sighning the second draft of the contract stating that they would sell the farm to Lucy, the Zhemers entered into a legal contract. The offer cannot be revoked because Lucy had already accepted it, so the Zhemers are obligated to sell Lucy the farm at the agreed price....
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