This topic contains a solution. Click here to go to the answer

Author Question: A carrier owned and operated by the shipper is: A) a common carrier. B) a common carrier. C) a ... (Read 121 times)

scienceeasy

  • Hero Member
  • *****
  • Posts: 565
A carrier owned and operated by the shipper is:
 A) a common carrier.
 B) a common carrier.
 C) a private carrier.
 D) a consignor.

Question 2

On February 7, 2015, A entered into negotiations with B for the purchase of B's farm. After consulting with an attorney and having the property appraised, B agreed to sell for 750,000. A and B agreed in writing that in exchange for 1,000 then received from A, B would hold the offer open for nine months. After six months, A wrote B that he was no longer interested in buying the farm. Several days later, A received notice from B that he was negotiating with C to sell the farm for 950,000. A immediately called B, who suggested that if A would agree to pay 875,000 and conclude the deal within 10 days, then B would still be willing to sell to A. A protested that B was driving a hard bargain, but finally agreed by telegram that evening to buy the farm for 875,000 within 10 days. A purchased the farm as agreed and then sought to recover 125,000 from B or alternatively to rescind the purchase (in other words, get out of the contract). What result and why?



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

nothere

  • Sr. Member
  • ****
  • Posts: 324
Answer to Question 1

C

Answer to Question 2

The problem presents a classic case of premature rejection with the offeree then trying to take back the rejection and accept the original offer negotiated into the option. Under the rejection is rejection view, B was free to sell to C and free to come up with the 875,000/10day deal. In this case and under this view, A is stuck and had to pay the 125,000. Under the alternative view, the option remains open for the full nine months regardless of rejection unless the parties agree to waive rights and refund portions of the option payment. In this case, A could still get land for the 750,000 price and is entitled to a refund. Rescission is not possible, since there was a valid offer and acceptance.




scienceeasy

  • Member
  • Posts: 565
Reply 2 on: Jun 24, 2018
Great answer, keep it coming :)


hramirez205

  • Member
  • Posts: 345
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

Did you know?

According to the FDA, adverse drug events harmed or killed approximately 1,200,000 people in the United States in the year 2015.

Did you know?

If all the neurons in the human body were lined up, they would stretch more than 600 miles.

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Did you know?

The human body's pharmacokinetics are quite varied. Our hair holds onto drugs longer than our urine, blood, or saliva. For example, alcohol can be detected in the hair for up to 90 days after it was consumed. The same is true for marijuana, cocaine, ecstasy, heroin, methamphetamine, and nicotine.

Did you know?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

For a complete list of videos, visit our video library