homework - Steven Westgate BUS345.01 Business Law I...

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Steven Westgate BUS345.01 Business Law I Chapters 9, 10, 11, 12, 13, 14, 15, 16, 17, and 18 Professor Sappington November 3, 2003
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9.1, 9.2, 9.3 9.1) This would indeed be a contract called an implied-in-fact contract. This is a contract that is implied from the conduct of the parties. Unlike other contracts, the contract was created through the conduct of the parties, not through words. This is what Miller and McCleskey have done. The parties both agreed through their conduct that it was alright for Miller to take the candy bar, which he will pay at a later date. 9.2) Nursing Services will probably be able to recover the $4000. Under the objective theory of contracts, intent is not determined by the personal or subjective belief of a party. It is determined by how objective facts would be interpreted by a reasonable person. Therefore, it doesn’t matter that Janine did not feel she should pay for the service because there was no physical contract. From an objective view of a reasonable person, Janine knowingly received services without objecting to them. Since she was aware of this, she should have to pay for the services she has received. 9.3) Atencio and his friend have formed a bilateral contract. In this type of contract, the contract comes into existence at the moment the promises are exchanged. Therefore, at the moment his friend put the red paper in her window, the contract was formed. This contract meant that next week Atencio will give his friend a watch in exchange for $100. Unlike a unilateral contract, a bilateral contract does not have to have a payment of money or delivery of goods to take place. 2
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9.1, 9.2, 9.3 9.4) Davison will probably be able to recover payment from Burger Baby. As with unilateral contracts, problems arise when the promissor attempts to revoke the offer after the promisee has begun performance but before the act has been completed. This is exactly what has happened to Davison. He started to swim the Sound only to find out that Burger Baby had revoked their deal. Since Davison had already started, and eventually finished, he should be able to receive payment under the modern view of unilateral contracts. 10.1) No, this is not considered a contract between Ball and Sullivan. Sullivan must then accept the $60,000 offer made by Ball before an agreement or contract can be formed. If Sullivan does not accept the offer of $60,000, a contract has not been formed between the two parties. 10.2) a. The offer Sachs make becomes terminated once he dies. Even if the other party had no notice of the death, the acceptance is terminated when Sach’s dies. b. The offer is automatically terminated once the fire destroys the equipment in this situation. Sachs does not have to tell Barry the equipment has been destroyed for the offer to terminate. c.
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This note was uploaded on 02/15/2012 for the course ACCT 2402 taught by Professor Lewis during the Spring '10 term at Lone Star College System.

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homework - Steven Westgate BUS345.01 Business Law I...

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