Contract Questions

399 steve purchases a four wheel drive truck from

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Unformatted text preview: The offer, which was sent by Stable on April 1, indicated that it would remain open until July 9. On July 5, Mix mailed a letter rejecting Stable’s offer. On July 6, Mix sent a telegram to Stable accepting the original offer. The letter of rejection was received by Stable on July 8 and the telegram of acceptance was received by Stable on July 7. Which of the following is correct? a. Receipt of Mix’s telegram resulted in the formation of a valid contract. b. Mix’s letter of July 5 terminated Stable’s offer when mailed. c. Stable was not entitled to withdraw its offer until after July 9. d. Although Stable’s offer on April 1 was a firm offer under the UCC it will only remain open for three months. 399. Steve purchases a four-wheel-drive truck from Belk Ford. Steve is only 17 years of age. He wrecks the vehicle and attempts to disaffirm the contract and have Belk Ford repay him all that he has paid. What would happen? a. Steve would be out of luck. b. Steve must have the truck repaired. c. Steve will receive his money less the depreciation in value of the vehicle. d. Steve may simply return the veh...
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This test prep was uploaded on 03/29/2014 for the course BUL 3130 taught by Professor Schupp during the Fall '12 term at UNF.

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