Contracts and E-Contracts 258 UNIT THREE ExamPre Issue Spotters 1. Fidelity Corp

Question

Contracts and E-Contracts 258 UNIT THREE ExamPre Issue Spotters 1. Fidelity Corporation offers to hire Ron to replace effect of the electronic ties' deal? Is a party's" (See page 255.) Monica, who has given Fidelity a month's notice of intent to quit. Fidelity gives Ron a week to decide whether to accept. Two days later, Monica decides provided in Appendix E at th not to quit and signs an employment contract with Fidelity for another year. The next day, Monica tells Before the Test Ron of the new contract. Ron immediately faxes a Go to www.cengagebr formal letter of acceptance to Fidelity. Do Fidelity 9781285185248, and click and Ron have a contract? Why or why not? (See book's Web site. Then, cl page 247.) Check your answers to the Is "Study Tools," and select you will find a Practice Qu 2. Applied Products, Inc., does business with Beltway Distributors, Inc, online. Under the Uniform your mastery of the conce Electronic Transactions Act, what determines the Flashcards and a Glossaryc Business Scenarios -1. Agreement. Ball e-mails Sullivan and inquires how (d) Barry pays $100 for a Sullivan is asking for a specific forty-acre tract of Sul the equipment. During livan owns. Sullivan responds, "I will not take an $60,000 for the forty-acre tract as speci Barry's estate accepts So fied." Ball diately sends Sullivan a fax stating, "I accept your 12-3. Online Acceptance. An offer for $60,000 for the forty-acre tract as specified. Business Journal, a print publ Discuss whether Ball can hold Sullivan to a contract for and other businesspersons the sale of the land. (See page 242.) lated time period. 12-2. Offer and Acceptance. Schmidt, the owner of a small publication. While visiting business, has a large piece of used farm equipment for Investments Corp. Anne sale. He offers to sell the equipment to Barry for $10,000. states" Discuss the legal effects of the following events on th offer: (See page 249.) (a) Schmidt dies prio perform research for the ar

Explanation / Answer

According to our reading, it is stated that an offer can be immediately terminated by the action of parties in any of the three ways listed.

Main reason behind this is specific case with which the specific offer may be terminated is as follows.

Revocation of the offer

In our text book it says that " unless an offer is irrevocable, the offeror usually can revoke the offer even he or she has promised to keep the offer open, as long as the revocation is communicated to the offeree before a offeree accepts". In this condition of a was not stated to be irrevocable and Ron applied for the job after Monica told him of the new contract. In this specific condition it does not matter if Ron learnt the specific relocations from Fidelty or via a third party. He specifically new all of the conditions before applying for the job or sending the acceptance hence the specific offer was terminated.

P.S. - please leave a comment if any explanation is needed.

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