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.