Reference no: EM132821609
Straightforwardness address the accompanying contextual analysis and decide if there ought to be a substantial agreement among Leonard and Pepsi Co.
See the following advert: https://www.youtube.com/andwatch?v=ZdackF2H7Qc
Pepsi Co ran an advertisement and limited time crusade in 1996 called the "Drink Pepsi Get Stuff" crusade. The gigantically effective mission permitted clients to guarantee prizes in return for focuses on PepsiCo refreshment holders, and focuses could be joined with money installments to get prizes. The mission was effective to the point that Pepsi didn't run the second round of advertisements and advancements on the grounds that the prizes were almost depleted.
In one television ad, Pepsi Co pictured a Harrier jet as a satirical spoof on the prizes available under the campaign. The jet was offered in the ad for 7 million beverage points. Harrier jets are made only for the Marine Corps and are not sold in the open market. They cost $33.8 million each and can be produced at a rate of only one dozen at a time.
See the following ad: https://www.youtube.com/watch?v=ZdackF2H7Qc
John Leonard, a 21-year-old business student, called Pepsi Co and was told he would need to drink 16.8 million cans of Pepsi in order to obtain the required points. He was also told that he had the option of buying Pepsi Co points for 10 cents each. Leonard developed a pool of investors (Pepsi drinkers) and delivered 15 PepsiCo points and a check for $700,008.50 for the remaining 6,999,985 points plus shipping and handling.
PepsiCo refused to provide Leonard with a Harrier jet because it said the ad was not an offer but a joke. Leonard filed a lawsuit but PepsiCo had already filed a per-emptive suit asking that Leonard's suit be dismissed and declared frivolous, and that PepsiCo should be reimbursed for its legal expenses.
Please briefly address the following questions:
1) What is the concept of an offer in contracts?
2) Did PepsiCo make an offer?
(Note: Discuss the concept of an offer and validity of an offer. Discuss and explain why (or why not) Pepsi did (or did not) make an offer referencing the course material and the concepts of valid acceptance)
3) What the is the concept of acceptance in contracts?
4) Did Leonard accept?
(Note: Discuss the concept of acceptance and discuss and explain why (or why not) Leonard did (or did not) accept referencing the course material and the concepts of valid acceptance)
5) Was there a contract? Why or why not.
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