COMMERCE 393 PRACTICE MIDTERM FEB 2013

COMMERCE 393 PRACTICE MIDTERM FEB 2013 - COMMERCE 393...

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COMMERCE 393 PRACTICE MIDTERM 2013 DUE: FEB 25 (Section 203), FEB 26 (Sections 204 and 205) Please hand in a hard copy in class. This practice midterm is OPTIONAL, however if you complete it, it will count 3% towards class participation. QUESTION #1 Francine, of Francine’s Used Car Dealership, offered to sell her used car to Beth at a price of $5,000 in a letter mailed October 1. The letter arrived at Beth’s office on October 3, but at the time it arrived Beth was out of town on a business trip. On October 7 Wendy made Francine’s an offer to buy the same car that Francine’s had previously offered to Beth. Wendy offered to pay $5,250 for the car. Francine’s accepted Wendy’s offer and the deal was recorded in writing and signed by both parties on October 8 th . Beth returned from her business trip on October 21. After reading Francine’s offer, Beth mailed her acceptance back. On October 22, hearing that Beth was now back from her trip, Francine’s telephoned to revoke the offer. Francine’s received Beth’s letter of acceptance on October 24.
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  • Spring '10
  • elaine
  • 1971, 1969, Bora Bros., Beth sue Francine

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