Do the following problems and for each state in separate paragraphs: a) a summary of the facts, b) the legal issues involved, c) your analysis of the case and d) your conclusion.
Pg. 180, problems 9–1 and 9–3
#9–1: Requirements of the offer
Ball writes to Sullivan and inquires how much Sullivan is asking for a specific forty-acre tract of land Sullivan owns. Ball then receives a letter from Sullivan stating, “I will not take less than $60,000 for the forty-acre tract as specified.” Ball immediately sends Sullivan a fax stating, “I accept your offer for $60,000 for the forty-acre tract as specified.” Discuss whether Ball can hold Sullivan to a contract for sale of the land.
#9–3: Termination of the offer
Chernek, the sole owner of a small business, has a large piece of used farm equipment for sale. He offers to sell the equipment to Bollow for $10,000. Discuss the legal effects of the following events on the offer. (See Agreement.) 1. Chernek dies prior to Bollow’s acceptance, and at the time she accepts, Bollow is unaware of Chernek’s death. 2. The night before Bollow accepts, a fire destroys the equipment. 3. Bollow pays $100 for a thirty-day option to purchase the equipment. During this period, Chernek dies, and Bollow accepts the offer, knowing of Chernek’s death. 4. Bollow pays $100 for a thirty-day option to purchase the equipment. During this period, Bollow dies, and Bollow’s estate accepts Chernek’s offer within the stipulated time period.
