Questions: 1. On October 30, Farraday offered to purchase some farmland from Hume for $14,500 with...

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Questions: 1. On October 30, Farraday offered to purchase some farmland from Hume for $14,500 with possession in January. On November 15, Hume counter offered, by letter, at $15,000. The letter was delivered to Farraday's home on November 20 but Farraday was absent on a hunting trip. Farraday's wife opened the letter and wrote back to Hume, stating that her husband was away for 10 days, and asked that Hume hold the deal open until Farraday could consider the matter. Hume did not respond. On December 10, Farraday returned home and immediately wrote Hume of his intention to accept Hume's offer of $15,000. The letter was received on December 12. By this time, Hume had already sold the land to someone else. Has Farraday accepted the offer in time or has it lapsed? (4 marks) 2. Sayid was helping to renovate his friend Benjamin's home. Benjamin realized he needed some pipe to complete a plumbing installation, but didn't have any cash on him, so Sayid gave him $5.00. In consideration of that, Benjamin said that he would share his $10.00 Super Lotto ticket with Sayid, should he win. Benjamin then took the $5.00, bought the pipe, and Sayid installed it. Later that month, Benjamin was declared the winner of the lottery draw, in the amount of $10,000,000. He tried to hide the fact that he had won, denying to Sayid that he was the winner. He later told him that he had only won $50,000, and in any case, that the winner was one of five tickets he had purchased after the one he said he'd split with Sayid. Does Sayid have an enforceable contract with Benjamin, such that he's entitled to half of the $10,000,000? What do you think his chances are if he tries to sue Benjamin to enforce the contract? Would they be better or worse if Benjamin hadn't denied winning in the first place? (4 marks) Questions: 1. On October 30, Farraday offered to purchase some farmland from Hume for $14,500 with possession in January. On November 15, Hume counter offered, by letter, at $15,000. The letter was delivered to Farraday's home on November 20 but Farraday was absent on a hunting trip. Farraday's wife opened the letter and wrote back to Hume, stating that her husband was away for 10 days, and asked that Hume hold the deal open until Farraday could consider the matter. Hume did not respond. On December 10, Farraday returned home and immediately wrote Hume of his intention to accept Hume's offer of $15,000. The letter was received on December 12. By this time, Hume had already sold the land to someone else. Has Farraday accepted the offer in time or has it lapsed? (4 marks) 2. Sayid was helping to renovate his friend Benjamin's home. Benjamin realized he needed some pipe to complete a plumbing installation, but didn't have any cash on him, so Sayid gave him $5.00. In consideration of that, Benjamin said that he would share his $10.00 Super Lotto ticket with Sayid, should he win. Benjamin then took the $5.00, bought the pipe, and Sayid installed it. Later that month, Benjamin was declared the winner of the lottery draw, in the amount of $10,000,000. He tried to hide the fact that he had won, denying to Sayid that he was the winner. He later told him that he had only won $50,000, and in any case, that the winner was one of five tickets he had purchased after the one he said he'd split with Sayid. Does Sayid have an enforceable contract with Benjamin, such that he's entitled to half of the $10,000,000? What do you think his chances are if he tries to sue Benjamin to enforce the contract? Would they be better or worse if Benjamin hadn't denied winning in the first place? (4 marks)