Owner Oscar has a piece of property called Blackacre. Buyer Beth is interested in purchasing it....
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Owner Oscar has a piece of property called Blackacre. Buyer Beth is interested in purchasing it. The following exchange takes place: May 1st - Beth sends a letter to Oscar, offering to buy Blackacre for $50,000. May 2nd - Beth sends a second letter to Oscar withdrawing her offer. May 3rd - Oscar receives Beth's May 1st letter that includes her offer. May 4th at 10:00 a.m. - Oscar mails a letter to Beth accepting her May 1st offer. May 4th at 4:00 p.m. - Oscar receives Beth's May 2nd letter withdrawing her offer. May 5th - Oscar mails Beth a letter revoking his May 4th letter of acceptance. May 6th - Beth receives Oscar's May 4th letter of acceptance. May 7th - Beth receives Oscar's May 4th letter revoking the acceptance. It is now May 10th and Beth has decided that she wants to purchase Blackacre. Is there a valid contract under these facts? Explain why or why not applying the legal rules Owner Oscar has a piece of property called Blackacre. Buyer Beth is interested in purchasing it. The following exchange takes place: May 1st - Beth sends a letter to Oscar, offering to buy Blackacre for $50,000. May 2nd - Beth sends a second letter to Oscar withdrawing her offer. May 3rd - Oscar receives Beth's May 1st letter that includes her offer. May 4th at 10:00 a.m. - Oscar mails a letter to Beth accepting her May 1st offer. May 4th at 4:00 p.m. - Oscar receives Beth's May 2nd letter withdrawing her offer. May 5th - Oscar mails Beth a letter revoking his May 4th letter of acceptance. May 6th - Beth receives Oscar's May 4th letter of acceptance. May 7th - Beth receives Oscar's May 4th letter revoking the acceptance. It is now May 10th and Beth has decided that she wants to purchase Blackacre. Is there a valid contract under these facts? Explain why or why not applying the legal rules
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There is no valid contract under these facts Offer Beth made an ... View the full answer
Related Book For
Financial Accounting IFRS
ISBN: 978-1118285909
2nd edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
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