On Friday 27th September 2019, by email, Olisa Limited liability Company (hereafter called Olisa), which is located
Question:
On Friday 27th September 2019, by email, Olisa Limited liability Company (hereafter called Olisa), which is located in District 7 Ho Chi Minh city, offered to sell 15.000 tons of iron to Nedo Joint Stock Company in Tan Binh District - Ho Chi Minh city (hereafter called Nedo) for $10 per kilogram (net cash) and this offer was valid until Monday. On Monday 30th September 2019 at 9.45 am, Nedo sent an email to Olisa stating that Nedo would buy 15.000 tons of iron for $10 per kilogram including shipping costs, and they would pay by cash over two months. Olisa did not respond to the email and later that day sold 15.000 tons of iron to another party. Olisa sent an email to Nedo at 1.25 pm on Monday advising revocation of the offer and that all the iron had been sold. Prior to receiving this email, Nedo sent an email to Olisa at 1.26 pm advising acceptance of the offer. Nedo demanded Olisa compensate against the non-delivery of 15.000 tons of iron.
Can Olisa revoke its offer?
On Friday 27th September 2019, by email, Olisa Limited liability Company (hereafter called Olisa), which is located in District 7 Ho Chi Minh city, offered to sell 15.000 tons of iron to Nedo Joint Stock Company in Tan Binh District - Ho Chi Minh city (hereafter called Nedo) for $10 per kilogram (net cash) and this offer was valid until Monday. On Monday 30th September 2019 at 9.45am, Nedo sent an email to Olisa stating that Nedo would buy 15.000 tons of iron for $10 per kilogram including shipping costs, and they would pay by cash over two months. Olisa did not respond to the email and later that day sold 15.000 tons of iron to another party. Olisa sent an email to Nedo at 1.25 pm on the Monday advising revocation of the offer and that all the iron had been sold. Prior to receiving this email, Nedo sent an email to Olisa at 1.26 pm advising acceptance of the offer. Nedo demanded Olisa to compensate against non-delivery of 15.000 tons of iron.
Can Nedo demand for compensation from Olisa?
On 25th October 2018, Mr Quang received an email from Mr Tin who was interested in buying a property called Bumper Hall Pen. The email read Will you sell us Bumper Hall Pen? Email lowest cash price answer paid . In response Mr Quang replied Lowest price for Bumper Hall Pen is 9 million dong on 26th October 2018. Also, Quang clarified that if Mr. Tin wants to buy the pen, he should let Quang know by 28th October 2018. Upon receiving Mr Quang s reply, Mr Tin then sent another email with the following message We agree to buy Bumper Hall Pen asked by you on 27th October 2018. Mr Tin also asked if the property deed could be sent so that he might get early possession of the property. On 28th October 2018, Mr Quang declined to sell the property at that price as he wanted to increase the price to 9.5 million dong.
What is the email sent on 27th October 2018?
Phuong was an iron merchant who purchased iron to sell on to third parties. Dung was the holder of warrants (titles) for quantities of iron. By telegram, on Firday 27th September 2019, Dung offered to sell iron to Phuong for 40s., nett cash, open till Monday . On Monday morning, 30th September 2019, at 10 am Phuong asked if Dung would clarify the delivery time, especially accept forty for delivery over two months, or if not, longest limit you would allow . Dung did not respond to the telegram and later that day sold all warrants to another party. At 1.34pm on the Monday, Phuong sent a telegram to Dung advising acceptance of the offer. At 1.45pm on the Monday, Dung sent a telegram to Phuong advising all warrants had been sold. Phuong subsequently sued Dung for non-delivery of iron warrants alleging breach of contract.
When will a contract between Dung and Phuong be formed?
On Friday 27th September 2019, by email, Olisa Limited liability Company (hereafter called Olisa), which is located in District 7 Ho Chi Minh city, offered to sell 15.000 tons of iron to Nedo Joint Stock Company in Tan Binh District - Ho Chi Minh city (hereafter called Nedo) for $10 per kilogram (net cash) and this offer was valid until Monday. On Monday 30th September 2019 at 9.45am, Nedo sent an email to Olisa stating that Nedo would buy 15.000 tons of iron for $10 per kilogram including shipping costs, and they would pay by cash over two months. Olisa did not respond to the email and later that day sold 15.000 tons of iron to another party. Olisa sent an email to Nedo at 1.25 pm on the Monday advising revocation of the offer and that all the iron had been sold. Prior to receiving this email, Nedo sent an email to Olisa at 1.26 pm advising acceptance of the offer. Nedo demanded Olisa to compensate against non-delivery of 15.000 tons of iron.
When will Olisa s offer terminate its existence?
Doan and Sen have a house valued at 800 million dong and three children including Nhat who passed away in 1987 when he was 3 years old, Cong and Khanh. In 2010, Khanh got married and has 2 children including Hong (7 years old) and Thanh (4 years old) with Tuan. In 2020, due to cancer, Khanh passed away with a valid will leaving all of her property valued at 1.5 billion dong to her children. In 2021, due to Covid-19, Doan passed away. After Doan passed away, Sen decided to give Khanh s children some of Doan s property as Khanh passed away when they were still young. Tuan was not happy about this as a son in law he should be entitled to receive Doan s property. Therefore, Tuan requested Sen to give him some of Doan s property.
How much is Doan s property?
Expert Answer:
Managerial Accounting Creating Value in a Dynamic Business Environment
ISBN: 978-0078025662
10th edition
Authors: Ronald Hilton, David Platt
