Comparative Contract Law Assignment | Comparative Contract Law
Question I: Contract Formation Justin Timberlake advertises his singing services: “First offer of $1,000,000 wins.” Bob calls the phone number at the bottom of the advertisement to see if it is real and to his surprise finds out it is! So Bob sends a handwritten, signed letter offering $1,000,000 to the address and puts it in the mail on March 1st. However Bob’s wife gets very angry when she realizes he just offered $1 million so the next day, Bob sends another letter revoking his acceptance. Justin Timberlake receives Bob’s acceptance letter on March 5th and the rejection letter on March 6th. Is there a contract: If this is in New York: If this is in Scotland:
Question II: Mistake and Error Amit wants to buy Jonathan’s Picasso painting and they agree to a price of $3 million. Amit brings the painting home and a few weeks later finds out the painting is a fake, both Amit and Jonathan are shocked. Is the contract for the sale void or voidable? If this is in New York: If this is in Scotland: What if Jonathan knew the painting was a fake? Is the contract for the sale void or voidable? If this is in New York: If this is in Scotland:
Question III: Choose ONE of the following: A. Breach And Remedies
Great Yachts Builders (GYB) is a shipbuilding company and contracts with Osnat to build a custom 7-meter long yacht for $800,000 to be completed on August 30th. On July 25th, Osnat calls GYB to say she changed her mind and she is not going to pay, she’d rather buy a private jet from someone else. GYB managed to find another buyer, Amiram, who bought the yacht for $500,000. Does GYB have a breach of contract claim against Osnat and if so, how much in damages can they receive? In New York: In Scotland: B. Engagement
On September 5th, 2019, B gets down on one knee and proposes to A with an engagement ring (worth $1000). She accepts and they plan a wedding for June 2020. In November 2019, B’s parents pay a nonreturnable deposit of $1000 to caterers to prepare the dinner for the wedding and $5000 deposit on the hotel they wanted to get married in the contracts are in the names of B’s parents. The day before the wedding, A tells B she does not want to marry him after all. Did A breach a contract? Does A have to return the engagement ring or pay B any damages?