Reference no: EM13841416
Johnny, a neighbor who is not a merchant under the Uniform Commercial Code, offers to buy a car from Mark for $30,000. Mark asks Johnny for some time to think about it. Johnny says sure. He writes on a piece of paper that he will keep the offer open for two weeks.
A week later Johnny sees another car he would rather buy. He purchases that, and then he tells Mark that he is revoking his offer.
Two days after that Mark said: “I’m sorry Johnny you made an offer in writing to buy my car. I’m going to hold you to that.”
Johnny replied: “Sorry I cannot do that. But I will promise to pay you $10,000 for the help you gave me last year around the house.” Somewhat mollified Mark accepts.
A week later and Johnny decided to renege on that promise as well.
Fed up, Mark sued Johnny for breach of contract on both the promise to buy the car and the promise for the $10,000.
Discuss whether the elements of a contract are satisfied in this case.
Write a short essay, between 400 and 500 words, responding to the assignment below. You are expected to use the textbook and outside resources to provide accurate and substantive answers to the question. Also, be sure to make use of illustrating examples where appropriate. Submit your work in APA format.
|
The marginal product of labor in the economy
: Suppose the marginal product of labor in the economy is given by MPN = 0.002(16,000 - N), while the supplyof labor is 1000 + 1000w.(a) Find the market-clearing real wage rate and level of employment.(b) What happens to the wage rate and employment if..
|
|
Implemented to minimize the damage caused by oil spills
: Describe two (2) measures taken to protect wetlands in the United States. Find two (2) examples of businesses in your local community that attempt to disclaim liability for damage to or loss of bailed property. Describe two (2) legislations that have..
|
|
Upper down be vertical or horizontal and why
: If you were to draw a demand curve for Car how would you label the axis that is what you're measuring along each axis with this demand curve slope upper down be vertical or horizontal and why
|
|
Functional group decision-making theory
: This week’s forum requires you to serve as a facilitator about Functional Group Decision-Making Theory and in your own words – using your own examples, etc. What this theory is all about and how we can apply it in our everyday lives (professionally, ..
|
|
Merchant under the uniform commercial code
: Johnny, a neighbor who is not a merchant under the Uniform Commercial Code, offers to buy a car from Mark for $30,000. Mark asks Johnny for some time to think about it. Johnny says sure. He writes on a piece of paper that he will keep the offer open ..
|
|
Describe the demand chain and constituent parts
: Please describe the demand chain and constituent parts as it relates to Walmart. How is the demand chain created and benefits used?
|
|
Write a report providing guidance for your manager
: As a human resource manager you have been asked to write a report providing guidance for your manager in dealing with issues in contemporary human resource management that you think are important.
|
|
Identify the stages of group development
: Identify the stages of group development in Tuckman's 5 stage model, an.d briefly discuss the differences between the 5 stage model and Gersick's punctuated equilibrium model.
|
|
Programming tasks use any high-level programming
: Programming Tasks Use any high-level programming language you wish for the following programming exercises. Do not call built-in library functions that accomplish these tasks automatically. (Examples are sprintf and sscanf from the Standard C librar..
|