Fred Twain sends the following e mail to Ralph Barnes Will sell you my 2006

Fred twain sends the following e mail to ralph barnes

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45.Fred Twain sends the following e-mail to Ralph Barnes: “Will sell you my 2006 Audi A4 for $23,500, will carry or take cash. This offer to remain open until November 11, 2007.” Ralph responds, “I know how much you love that car. I’ll think about it.” On November 12, 2007, Ralph e-mails Fred and writes, “Fred, I am ready to buy your car.” Fred responds, “Ralph, I sold the car this morning because Ididn’t hear from you.”a.Fred has breached a contract because Ralph accepted.b.Fred was required to notify Ralph before he sold the car to someone else.c.Ralph no longer had the power of acceptance.d.both a and bANS:C
PTS:1NAT:AACSB: AnalyticTOP:offer | acceptanceESSAY1.On Monday, Sam's Computer Company wires Bob's Computer Mart, "I have two IBM XT's for sale for $1700 each. You pay cost of shipping." Bob received the offer on Monday afternoon and wired back, "You have a deal. 30 days same as cash." On Tuesday morning Sam called to revoke the offer. On Tuesday afternoon Sam received the wire. Sam says there is no contract and Bob says there is. Who is correct?
PTS:1NAT:AACSB: AnalyticTOP:mailbox rule2.List the types of contracts required to be in writing.
PTS:1NAT:AACSB: AnalyticTOP:contracts3.H2O Plumbing has been working on a residential subdivision project for Paradise Builders. H2O agreed to do all plumbing work on each of the houses for a fee of $5200 per house. H2O has reviewed the market and decided that most plumbers are getting between $5500 and $6000 for houses of compa-rable size. H2O has done the initial work on all of the houses and has told Paradise it will stop work unless the price is increased to $5500 per house. Paradise is on a tight schedule with its construction lender and with home buyers and succumbs to the demand. Later, when the houses are constructed, Paradise refuses to pay any more than $5200 per house. Explain H2O's rights to them.
PTS:1NAT:AACSB: AnalyticTOP:contracts4.Trevor Jones accepted a summer internship with Hailey & Thomas, a management consulting firm. The negotiations and offer were all oral. Hailey & Thomas' managing partner did send a letter with the following language:Welcome to Hailey & Thomas. We are looking forward to working with you. When you arrive in New York, please call me so that we may help you locate lodging for the summer.

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