A. Johnny Rose has a dining room table and accompanying sideboard that he purchased from Rooms To
Question:
A. Johnny Rose has a dining room table and accompanying sideboard that he purchased from Rooms To Go only two years ago that he can no longer use. He offers both items for sale for $450.00 on the Next Door Neighbor site for the town of Schittsville in Polk County, Florida. After seeing the advertisement, at 9 AM the next day, Roland Schitt visits Johnny's motel room intent on making an offer for the table and sideboard.
Just minutes before Roland's arrival, however, Bob Currie calls Johnny and offers $600 for both items. Johnny agrees to that and Bob says he'd be right over. As Roland enters Johnny's motel room, he immediately tells Johnny that he'll purchase the items for the advertised price of $450.00. Johnny tells Roland he has already received a higher offer from Bob. Roland becomes angry and sues Johnny for breach of contract (Schitt v. Rose).
- In what Florida court would Roland file his breach of contract lawsuit. Explain your answer.
- What would be the result of Roland's lawsuit. Explain your answer.
B. After Roland leaves in a huff, Bob arrives at Johnny's motel and after looking over the dining room table and sideboard, Bob tells Johnny that he doesn't want the items after all. Johnny becomes angry and sues Bob for breach of contract.
- What law applies to Johnny's lawsuit - the general law of contracts or Article 2 of the Uniform Commercial Code. Explain your answer.
- Under these facts, have Johnny and Bob entered into a valid contract? Explain your answer.
- Under these facts, would Johnny's breach of contract lawsuit succeed in court? Why or why not?
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Principles Of Managerial Finance
ISBN: 978-0136119463
13th Edition
Authors: Lawrence J. Gitman, Chad J. Zutter