(SOLVED)Sally decided to hold a garage sale.
Discipline: Accounting
Type of Paper: Question-Answer
Academic Level: Undergrad. (yrs 3-4)
Paper Format: APA
Question
Writing Assignment # 8
Sally decided to hold a garage sale. She posted signs in the neighborhood which
read: “Giant Garage Sale — Electronic keyboard: $200 (one only), designer
clothes, CD’s, Books and More! Sunday, Noon to 4:00 p.m.”
On Sunday, Andy saw one of Sally’s signs, and arrived at her home promptly at
noon. He examined the keyboard and then announced, “I’ll take the keyboard for
$200, but first I need to get a truck to move it home. I’ll be back before 4:00
with the money and a truck.” Before Sally could respond, he left.
Sally’s friend, Betty, stopped by at 1:00, and saw a designer gown. Betty told
Sally, “I’d love to buy that gown, but I can’t afford it!” Sally replied, “I
had hoped to get $400 for the gown, Betty, but you’ve helped me out before, and
I’ve always wanted to pay you back. So, if I can’t sell it for $400 by 3:30,
the gown is yours for free.” Betty thanked Sally and left.
At 1:30, Chuck browsed through the garage sale and found a set of art books. “I
want to buy these,” he told Sally, “but I don’t have any cash with me.” “That’s
O.K.,” Sally replied. “I’ll sell you those books for $100. The offer’s open
until 4:00.” “Thanks,” Chuck answered, “I’ll be back as soon as I can.”
At 3:30, Betty called Sally and asked if anyone had purchased the gown yet.
“Not yet,” Sally replied. “No one’s here so I’m going to close up early. It
looks like it’s yours.” “Thanks,” Betty responded. “I am going to run to the
store and buy shoes and a purse that match the gown.”
At 3:45, Debbie arrived at the sale, pointed at the gown Sally had promised to
Betty, and said, “I’ll buy that gown for $300, and I’ll buy that set of art
books too.” Sally sold the gown and books to Debbie.
Chuck returned before 4:00, saw Debbie carrying the books and said to Sally,
“You can’t sell those books to her! We had a deal!” Although he attempted to
give Sally $100, she refused the money.
Betty arrived shortly thereafter, and showed Sally the shoes and purse that she
had purchased to go with the gown. Sally told her the evening gown had been
sold.
Does Andy have an enforceable contract with Sally? Discuss.
Does Betty have an enforceable contract with Sally? Discuss.
Does Chuck have an enforceable contract with Sally? Discuss.
Open a blank Microsoft® Word® document which should be
labeled 'Legal Writing 604 Assignment # 8' followed by your last name and your
student number. Once you have completed this assignment, save it on your
computer where you will be able to find it. You will then use the 'browse'
button at the bottom of the assignment to retrieve the assignment and then
submit it by clicking the 'upload' button.
Please carefully follow the below instructions:
This assignment should be taken under exam conditions (one-hour time limit,
closed book, no smoking). The assigned essay questions should be taken at one
sitting. Please write your answer in the IRAC format.
Your assignment will be evaluated and critiqued. You will receive your personal
feedback on your assignment within 14 days.
Please write an IRAC answer to the Above Contract essay.
Remember, this assignment must be prepared in
Microsoft® Word® using the Times New Roman font, 12 point, single space, double
space between paragraphs. Each page must be numbered and your last name and
student number included on the upper left hand corner of each page.
This research/writing assignment is to be submitted in the box at the bottom of
the assignment page.
The Microsoft® Word® file name must read Legal Writing 604, Assignment # 8
followed by your last name and student number (Example: Legal Writing 604,
Assignment # 8, Jones, # 3500).
EXPERT SOLUTION PREVIEW
Validity of Contracts
The determination of whether Andy, Betty or Chuck had an enforceable contract will be based on whether a valid contract had been formed. A valid contract requires an offer, acceptance and consideration.
Governing Law
The UCC governs contracts for the sale of goods which are movable things at the
time of identification to the contract. All of the items sold by Sally are movable
and therefore, goods. Thus, the UCC will control.
Andy v. Sally for keyboard
Offer
An offer is an outward manifestation of a present contractual intent requiring definite and certain terms, communicated to the offeree.
Sally’s posted signs
Sally’s posted signs which stated Electric Keyboard: $200 (one only) were not
an offer because it is not definite as to who the parties are. It is a
solicitation for offers that invites people to come to her yard sale and
negotiate with her as usually happens at yard sales.
Sally may argue that since the sign was specific in the number of keyboards for
sale (1) and the price ($200) and time for acceptance (Noon to 4:00 p.m.) it contained
sufficient details to be considered an offer. Further, since Andy responded to
the sign by arriving promptly at noon willing to pay the $200, he showed that
he believed it was an offer that was available for acceptance.
Under the UCC, which liberally construes the requirements of an offer, quantity
and parties must be included for it to be an offer. Since the parties were not
definite, it is not a…..