« previous next »

Author Question: The following excerpts from letter negotiations on land occurred between Magnus Matthews and Elaine ... (Read 49 times)

DyllonKazuo

  • Hero Member
  • *****
  • Posts: 565
on: Jun 24, 2018
The following excerpts from letter negotiations on land occurred between Magnus Matthews and Elaine Brown. January 4, 2013 Dear Magnus, I am interested in buying that lot you showed me last Saturday. You talked about 40,000 as a price. That sounds good to me. Let's meet Wednesday at Frisco Kid's to iron out details. Elaine January 4, 2013 (via fax) Elaine, 40,000 is the price. Cash only. I'll see you Wednesday at 5:30. Magnus On January 5, 2013, a developer came to Magnus with 40,000 cash and asked to buy the lot. Magnus signed a contract and accepted a 4,000 earnest money deposit. On January 6, 2013, Magnus met Elaine at Frisco Kid's and said when he first spotted her, Sorry, kid. I sold the lot yesterday. Cash straight up. Let's talk about any of my other lots. Did Magnus and Elaine have a contract?

Question 2

Indorsers and drawers are the parties whose liability on negotiable instruments is ordinarily primary.
  Indicate whether the statement is true or false


joanwhite

  • Sr. Member
  • ****
  • Posts: 308
Reply #1 on: Jun 24, 2018
Answer to Question 1

Magnus made an offer which Elaine could accept, but the two did not have a contract. Magnus could sell the lot. Elaine's letter did not have sufficient detail or present intent to contract.

Answer to Question 2

FALSE


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

More than 4.4billion prescriptions were dispensed within the United States in 2016.

Did you know?

Hip fractures are the most serious consequences of osteoporosis. The incidence of hip fractures increases with each decade among patients in their 60s to patients in their 90s for both women and men of all populations. Men and women older than 80 years of age show the highest incidence of hip fractures.

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

Did you know?

In 2012, nearly 24 milliion Americans, aged 12 and older, had abused an illicit drug, according to the National Institute on Drug Abuse (NIDA).

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Land and sea breezes Land and sea breezes
Land/Water Interactions Land/Water Interactions
Land use change and forestry are responsible for 18% of global greenhouse gas emissions Land use change and forestry are responsible for 18% of global greenhouse gas emissions
Differential Heating of Land and Water Differential Heating of Land and Water
Sabrina's Fabric Land bought $5,000 of equipment at the beginning of 2015. Amortization ... Sabrina's Fabric Land bought $5,000 of equipment at the beginning of 2015. Amortization ...
Diversity of Modern Land Plants Diversity of Modern Land Plants
Video: Types of Burns

For a complete list of videos, visit our video library