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Suppose the given facts for the analysis:

ABC Corp. forwards an agreement to Mr. Jones, wherein it is stated that ABC will give Mr. Jones with 50 widgets for the price of $500. The agreement gives that Mr. Jones should accept the terms by July 22 at 11:59 p.m. or the offer will be withdrawn. On July 23, Mr. Jones forwards a letter to ABC stating that he will pay $450 for the widgets. He does not specify a time by which ABC must accept the offer.

By August 25, Mr. Jones has heard nothing from ABC Corp and is need of widgets. He buys 50 widgets from XYZ Corp. for the price of $450, but does not inform ABC Corp that his counter-offer has been withdrawn.On September first, ABC forwards a letter to Mr. Jones, accepting his counter-offer. Mr. Jones then informs ABC that he has already purchased the widgets and has withdrawn his offer.

ABC brings a lawsuit against Mr. Jones alleging breach of contract and requesting money damages or specific performance of the contract. ABC further states that, once it accepted the offer, a contract was created. Mr. Jones argues that there was never a legally enforceable contract and the parties were simply engaging in negotiations. He claims he did not intend to be bound by the offer. He further argues that, if there were an offer, it expired due to ABC's lack of acceptance in a reasonable time frame.

Analysis of cases must be 2 pages double spaced.

Business Law & Ethics, Finance

  • Category:- Business Law & Ethics
  • Reference No.:- M915441

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