1. Universal Studios is shooting the 89th sequel to its popular The Fast and The Furious movie saga. Previous versions of movie used the Dodge Charger muscle car for some some of the most adrenaline loaded street car racing scenes. The 89th version of the movie would be no different and Universal Studios needs over 200 Dodge Chargers to use for making its movie. (In filming The Fast and Furious 6, over 350 cars were destroyed!) However, Universal is having a hard time locating the cars as Dodge has not made the same model Charger in almost 30 years. Universal decides to take an advertisement in local newspapers in an attempt to purchase used Chargers. Universal takes an ad that states: LOOKING FOR USED CHARGERS IN GOOD CONDITION, WILLING TO PAY COST PLUS 10% OR BEST OFFER, EMAIL PROPOSALS TO needchargers@UniversalStudios.com.

Vin, a collector who frequently visits yard sales, has a large collection of chargers in fact, he has cell phone chargers for almost every type of cell phone made in the last 10 years. He has been saving his collection for a moment just like this. Vin eagerly responds to the ad by sending an email that states: I can supply your request for CHARGERS. I am willing to offer CHARGERS for cost plus 10%. If this is acceptable, please email specifying the delivery time and location. When Universal's procurement team receives the email, it sends a response stating: We accept. Cost plus 10% is perfect. Deliver to Universal Studios on February 15^th by 4:00pm.

When Vin shows up with a small box of phone chargers, both parties are furious and threaten to bring an action for breach of contract. Universal refuses to accept the phone chargers and Vin did not deliver a car.Do the parties have a contract? Explain the reasons for your answer.

2.In a surprising move, Boeing has decided to sell its division of Rotorcraft Systems and hires Lucy, a broker who specializes in corporate divisional mergers and acquisitions. Boeing sets the price for the entire division at $14.2 billion. After performing its due diligence on the divisions financial and safety records, Airbus, Inc. makes an offer for the division for $13.75 billion. Lucy communicates the offer to Boeings business development team who feels the offer is far lower than what Boeing expected. The Boeing team tells Lucy to make a counter offer of $14 billion. Airbus believes that $14 billion is too high and decides to walk away from the deal. When the Boeing team learns of the bad news, it fears it has made a big mistake and advices Lucy to accept Airbuss initial offer of $13.75 billion.

Choose ALL the correct statements.

	a.	Boeing and Airbus have come to an agreement for the price of $13.75 billion
	b.	Boeing and Airbus have come to an agreement for the price of $14 billion
	c.	Boeing and Airbus do not have an agreement
	d.	Boeing made an offer to Airbus to sell the division for $14 billion