Reference no: EM131020383 , Length:
In 1999, a Seattle man took a popular soft-drink company seriously when one of its commercials made an offer of a Harrier jet, the famous high-tech jump jet used by the U.S. Marines. In a television commercial that aired in 1995, the company jokingly included the Harrier as one of the prizes that could be received with a mere 7 million company points. Although that sounds like a lot of points to get from drinking the soft drink company''s products (roughly 190 drinks a day for 100 years), the company also allowed customers to purchase points for 10 cents each.
The man did the math and discovered that the cost of the 7 million points needed for the jet was $700,000. He then put together a business plan, raised the $700,000 from friends and family, and submitted 15 points, the check, and an official order form with a demand for the Harrier jet.
The company wrote back, stating that the Harrier jet in the commercial was simply used to create a humorous and entertaining advertisement. They apologized for any misunderstanding or confusion people may have experienced and enclosed some free product coupons.
The free coupons did not satisfy the man, who then took the soft drink company to court. Finally, a federal judge for the Southern District of New York held that the company was only joking when it implied in its ad that it was giving away fighter jets. The judge noted that because the jets sell for approximately $23 million, no one could have concluded that the commercial actually offered consumers a Harrier jet. Instead, this was a classic example of a deal that was too good to be true.
Write a paper of 4-6 body pages that answers the following questions, including an in-depth explanation of the supporting rationale:
What are the key legal factors present in the scenario?
What are the 4 elements of a valid contract? How do they relate to the scenario in question?
What is the objective theory of contracts?
How does the objective theory of contracts apply to this case?
In your own words but based on research and analysis of relevant legal concepts and cases, why do you think the court held that there was not a valid agreement in this scenario? Provide support for your position.
Are advertisements generally considered offers? Explain.
How does this case differ from a reward situation in which a unilateral contract is formed upon completion of the requested act?
What recommendations (at least 2) would you make for a company considering an aggressive marketing campaign with giveaways of high value items? Explain the rationale behind each recommendation.
|
What are the break-even points for both marketing options
: You have started a business that sells a home gardening system that allows people to grow vegetables on their kitchen countertop. You are considering two options for marketing your product. The first is to advertise on local TV. What are the break-ev..
|
|
Explains the changes in gaap standards
: How would you describe the cost/benefit of this training to your supervisor?
|
|
Estimate the percentage of time headways
: Suppose you are counting the traffic in an onramp of Pacific Motorway. Vehicles are known to arrive according to a Poisson process. Vehicles are counted in 30-second intervals. You count the number of arriving vehicles in 200 intervals, 20 of whic..
|
|
Cost of energy between the two months
: The number of equivalent units produced in October and November was 500,000 pounds and 550,000 pounds, respectively. Evaluate the cost of energy between the two months.
|
|
What are the key legal factors present in the scenario
: What are the key legal factors present in the scenario - what are the 4 elements of a valid contract? How do they relate to the scenario in question?
|
|
Find the interval on which function increases
: Find the interval(s) on which f(x) increases, given that f(x) = x3 - 12x + 1. Find the interval(s) on which f(x) increases, given that f(X) =- 2x (25x2 + 75 + 72).
|
|
Performance of a listed company
: Your task is to analyse the historical (for the last five years) performance of a listed company and present your findings in the form of a report, which will cover both qualitative and quantitative performance elements in a logical cohesive forma..
|
|
Examine the seven photographs and state moisture content
: Examine the seven photographs and state moisture content and propose a simple method of determining moisture content od timber sample in case you have no access to 'wood moisture meter'.
|
|
What is the general theme of these arguments
: Explain the concept of the Time Value of Money (TVM). Does the TVM generally imply that "money today" is worth more than "money tomorrow"? Please explain, providing one or more examples that apply the concept of TVM.
|