Assuming that john offer was legally sufficient

Assignment Help Operation Management
Reference no: EM131784689

John sends Carol an e-mail message stating that if Carol will promise to pay him $500,000, John will sell his vacation home in Big Bear to Carol. John’s e-mail message also says that if Carol wants to buy his vacation home, she must e-mail his sister and let her know that she wants to buy the home by December 1, because John will be out of the country on an African safari with no e-mail access. John’s e-mail message provides his sister’s e-mail address to Carol, but is not courtesy copied to his sister. Before John leaves on safari, he signs a power of attorney authorizing his sister to sell his vacation home in his absence.

On November 30, Carol replies to John’s e-mail stating that she wants to buy his vacation house. On December 6, John’s safari reaches a small town where John can telephone his sister. John asks his sister whether she has heard from Carol about buying the vacation home. His sister tells him that she has not heard from Carol. John instructs his sister to sell the vacation home to Bob. John explained to his sister that Bob was young, but had inherited a lot of money and previously said he wanted to buy the vacation home. John is anxious to sell the vacation home before the end of the year for income tax purposes. On December 18, on behalf of John, John’s sister enters into a written contract with Bob to sell the vacation home to Bob (assume that John’s sister has the authority to enter into a legally binding contract on John’s behalf).

Assuming that John’s offer was legally sufficient, was Carol’s reply message to John a legally sufficient acceptance of John’s offer to sell his vacation home? Explain why or why not.

Reference no: EM131784689

Questions Cloud

Reasons for government involvement in a market economy : Provide two (2) examples of government involvement in a similar market economy to support your response.
Determine the ratio of liabilities to stockholders equity : Determine the ratio of liabilities to stockholders' equity for both companies. Round to one decimal place
Outline a plan that managers in the low-calorie : Outline a plan that managers in the low-calorie, frozen microwaveable food company could follow in anticipation of raising prices when selecting pricing
Discuss an employer-sponsored retirement plan : What is the after-tax cost of her $3,000 traditional IRA contribution, Even though she participates in an employer-sponsored retirement plan
Assuming that john offer was legally sufficient : Assuming that John’s offer was legally sufficient, was Carol’s reply message to John a legally sufficient acceptance of John’s offer to sell his vacation home?
Determine the direct labor cost budget : determine the direct labor cost budget for 2016. Do not round your intermediate calculations but, if required, round your final answer to the nearest dollar.
Determine the ratio of fixed assets to long-term liabilities : Determine the following: (a) ratio of fixed assets to long-term liabilities, (b) ratio of liabilities to stockholders' equity, (c) ratio of net sales to assets
Create a flexible manufacturing budget for relevant range : Create a flexible manufacturing budget for the relevant range value using 22,600 unit increments.(List variable costs before fixed costs.)
How donations of inventory are treated what are the rules : What does it mean when a corporation has to recapture depreciation? What are the tax consequences? How donations of inventory are treated

Reviews

Write a Review

Operation Management Questions & Answers

  Public sector bargaining law

Explain why some states do and other states don't have a public sector bargaining law or laws that cover some public employees but not others.

  Organization has not implemented either activity costing

Suppose an organization has not implemented either activity based costing or a Balanced Scorecard but believes both would be valuable to the organization.

  Each should be taught in the fall to minimize total costs

How many of each should be taught in the fall to minimize total costs?

  Employee discipline handled under negotiated contract

How is the issue of employee discipline handled under the negotiated contract? What are the methods of dispute resolution?

  Training department develop a mission and goals

Why should a training (or HRD) department develop a mission and goals?

  All products move through the product lifecycle

All products move through the Product Lifecycle (PLC).

  Challenges associated with penetrating emerging markets

Discuss the challenges associated with penetrating emerging markets. What are some of the barriers related to infrastructure, quality, risk and cultural dimensions that need to be investigated? How can you effectively overcome these barriers as a glo..

  How might a team leader deal with social loafing

How might a team leader deal with “social loafing,” when members of the team are freeloaders,

  Regarding the advantages of using the social media marketing

Which of the following is true regarding the advantages of using the social media marketing (SMM)?

  An engineered system consists of a hazard rate of 001

an engineered system has a hazard rate of 0.01 failures per hour.a what is its mtbf? if the same system has an mtbm of

  Normalizing the data base to base year

You are developing a data base for Army tracked combat vehicles and you are normalizing the data base to base year 2017 dollars. What number would you enter into the data base for a vehicle budgeted at $63,725,000 in the FY20 appropriation?

  Major characteristics of services compared with goods

identifies the major characteristics of services compared with goods,

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd