Business law two short pages
- Two pages
- See the picture i post, use this business law and it’s definition create a question like the sample and answer the question by using this business law.
- The fact pattern in the question should be creative and reflect your original thought,
- The degree of difficulty of the question should mirror that of the typical in-class quiz question, as should the format of the question
- The question and its answer should demonstrate effective writing skills including proper grammar, sentence structure, spelling, etc.
- The answer must be substantively correct as well as thorough in its discussion of the rules of law and analysis of how the facts apply.
SAMPLE QUIZ Question
Able is jogging in his neighborhood and as he goes by Baker’s driveway, he sees Baker’s old red Camaro automobile with a “For Sale” sign. He inspects the car and then asks Baker the price. Baker says, “I wouldn’t sell it for less than $500.” Able replies, “I accept your offer,” and attempts to give Baker the cash. Baker refuses and declines to sell. Able sues for breach of agreement. Who wins and why?
DECISION: Able v. (Baker) (circle one)
RULE(s) OF LAW: (Write the generic rule(s) here; do not incorporate the facts of the above case.)
A valid contract requires an agreement (offer and acceptance) between two or more parties, which the court will enforce in the event of a breach.
In order for there to be a valid offer, the offeror must have a present and definite intent to contract. It must be more than preliminary negotiations (“Can we make a deal here?”), sales talk (“This car is a great deal”), invitations for offers (“I would expect to receive at least $500”), or requests for more information (“Does this car come with a CD player?”).
APPLICATION: (Discuss the rule stated above as it applies to the problem/parties, reasoning to a conclusion.)
The issue here is whether Baker’s statement constitutes a valid offer. His comment that he “wouldn’t sell it for less than $500” does not indicate that he has a present and definite intent to sell the car for $500. Rather, it appears to merely set a floor or lowest price he would consider, and to invite further discussions or negotiations with Able to finally agree upon a mutually acceptable price. It was an invitation for an offer, preliminary to an actual offer.
Therefore, since there was no valid offer, there cannot be a legal agreement that would bind Baker. So, Able loses.