Ask Basic Finance Expert

Jordan (1st Party - Offeree) is a passionate drinker and fond to try out red wines. He went to a shop in selling wines.

The salesman, Travis (2nd Party - Offeror) showed him those wines and explained the backdrop between.  Jordan insists in only drinking wines originality from South of French and made know to Travis (2nd Party - Offeror) that he will not accept red wines manufactured in any other countries.  Travis (2nd Party - Offeror) assured that the bottle that Jordan (1st Party - Offeree) is holding is distilled in South of French, and Jordan (1st Party - Offeree) purchased 3 bottles of the same.

Travis (2nd Party - Offeror) issued Jordan (1st Party - Offeree) with a receipt with a statement on it saying that "Products sold are not refundable nor the seller responsible for the safety of the products."

The following weekend, Jordan (1st Party - Offeree) invited his close friends to his home to enjoy the 3 bottles of red wines, and they are down with severe diarrhea thereafter.  Subsequent checks found out that these red wines are bootleg (illicit) drinks.

Q1) Explain the elements to the formation of the contract between the parties. Conclusion is there is a contract - 2 or max 3 law cases.  Need to discuss on invitation to Treat citing Pharmaceutical Society of Great Britain v Boots Cash Chemicals (1952).

Q2) What statutory provisions are Travis (2nd Party - Offeror) contravening under the Sale of Goods Act (SGA)? Need to discuss Section 13, 14(2), (2B), (3), Exclusion of implied terms: Section 6 (1) (a) & Section 6 (2) (a) and also UCTA Cap 396 citing Harlingdon& Leinster Enterprises Ltd v Christopher Fine Art Ltd (1991) and Frost v Aylsbury Dairy Co Ltd (1905).

Q3) Discuss the validity and enforceability of the statement printed on the receipt?

Q4) Can Jordan's friends (3rd Party) pursue liability with Travis (2nd Party - Offeror) under contract? If yes, what are the provisions for recourse? Otherwise, suggest an appropriate cause of action? Need to discuss on Negligence such as Duty of Care, foreseeability of harm proximity, Breach of duty by the defendant (Travis - 2nd Party Offeror) using Reasonable Test, Losses / Damages (Unwell) arising from the breach using causation: "but for test" and "Remoteness of harm" and lastly defendant has no valid defences - plaintiff to prove damages?

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M91875344
  • Price:- $40

Priced at Now at $40, Verified Solution

Have any Question?


Related Questions in Basic Finance

Question utilizing the concepts learned throughout the

Question: Utilizing the concepts learned throughout the course, write a Final Paper on one of the following scenarios: • Option One: You are a consultant with 10 years experience in the health care insurance industry. A ...

Discussion your initial discussion thread is due on day 3

Discussion: Your initial discussion thread is due on Day 3 (Thursday) and you have until Day 7 (Monday) to respond to your classmates. Your grade will reflect both the quality of your initial post and the depth of your r ...

Question financial ratios analysis and comparison

Question: Financial Ratios Analysis and Comparison Paper Prior to completing this assignment, review Chapter 10 and 12 in your course text. You are a mid-level manager in a health care organization and you have been aske ...

Grant technologies needs 300000 to pay its supplier grants

Grant Technologies needs $300,000 to pay its supplier. Grant's bank is offering a 210-day simple interest loan with a quoted interest rate of 11 percent and a 20 percent compensating balance requirement. Assuming there a ...

Franks is looking at a new sausage system with an installed

Franks is looking at a new sausage system with an installed cost of $375,000. This cost will be depreciated straight-line to zero over the project's five-year life, at the end of which the sausage system can be scrapped ...

Market-value ratios garret industries has a priceearnings

(?Market-value ratios?) Garret Industries has a? price/earnings ratio of 19.46X a. If? Garret's earnings per share is ?$1.65?, what is the price per share of? Garret's stock? b. Using the price per share you found in par ...

You are planning to make annual deposits of 4440 into a

You are planning to make annual deposits of $4,440 into a retirement account that pays 9 percent interest compounded monthly. How large will your account balance be in 32 years?  (Do not round intermediate calculations a ...

One year ago you bought a put option on 125000 euros with

One year ago, you bought a put option on 125,000 euros with an expiration date of one year. You paid a premium on the put option of $.05 per unit. The exercise price was $1.36. Assume that one year ago, the spot rate of ...

Common stock versus warrant investment tom baldwin can

Common stock versus warrant investment Tom Baldwin can invest $6,300 in the common stock or the warrants of Lexington Life Insurance. The common stock is currently selling for $30 per share. Its warrants, which provide f ...

Call optionnbspcarol krebs is considering buying 100 shares

Call option  Carol Krebs is considering buying 100 shares of Sooner Products, Inc., at $62 per share. Because she has read that the firm will probably soon receive certain large orders from abroad, she expects the price ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As