Contrast the different liabilities in each of the scenarios

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Reference no: EM13714705

Find the correct solution of following problem

Problem- Ashley met Adam at a party and after a couple of drinks; Ashley found out that Adam is in the business of selling educational products.

Part 1- Compare and contrast the different liabilities in each of the different scenarios below, where Ashley may agree to buy, Adam may agree to sell and they both may enter into a contract.

Part 2- Both parties discussed their intentions and Ashley stated briefly what kind of products she would be interested in but they parted ways after that. Ashley said later that there was no contract between them. Discuss if there is a binding agreement between them.

Part 3- While having drinks, as they were both in a good mood, they both agreed that they would like to enter into a contract for educational products. However, before they went into further details, Ashley started to flirt with Adam and their conversation diverted to other areas. Moreover, Ashley did say jokingly that because Adam is so handsome, she would not mind buying anything that he has to offer. Adam was so distracted by Ashley flirting that he also did not state clearly what kind of products he offers and Ashley in turn did not state clearly, what she is looking for. Discuss if there is a binding contract between them.

Part 4- Ashley meets Adam the next day to discuss more of the details of the sale. They agreed to all term clearly and Adam found out that Ashley is actually the owner of a major distributor of education products in her home town. However, one week after they signed the contract, Adam was told that Ashley was a minor. However, Ashley keeps reassuring him that she will turns 21 years old in a week and she will honor her part of the contract. Discuss if the contract signed is binding, and what are the option available to Ashley and Adam.

I need help to describe the business of selling educational products.

Reference no: EM13714705

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