Answer this using the IRAC writing Format

I-Describe the issue at hand (the question being asked)

R-Describe the rule that is applicable in this situation

A-Apply the rule to the facts of yor situation

C-Draw a conclusion

Offer and Acceptance

Schmidt, the owner of a small business, has a large piece of used farm equipment for sale. He offers to sell the equipment to Barry for $10,000. Discuss the legal effects of the following events on the offer:

(a) Schmidt dies prior to Barrys acceptance, and at the time he accepts, Barry is unaware of Schmidts death.

(b) The night before Barry accepts, fire destroys the equipment.

(c) Barry pays $100 for a thirty-day option to purchase the equipment. During this period, Schmidt dies, and later Barry accepts the offer, knowing of Schmidts death.

(d) Barry pays $100 for a thirty-day option to purchase the equipment. During this period, Barry dies, and Barrys estate accepts Schmidts offer within the stipulated time period.