Learning Activity #1
Because there is so much important information in this week’s materials, LA 1 includes 2 written assignments. Include them both in your post labeled LA 1 and label each assignment as noted below, Case A and Case B.
Case A: Myra owns a house which she advertises for sale for $400,000. On May 1, Nic offers Myra $380,000 for the house. Myra does not reply immediately, but on May 5, Myra delivers to Nic at his office a form that includes additional terms for the sale of the house, but does not state a price.
At 9:00 a.m on May 6, Nic signs the form from Myra and gives it to Odell, his administrative assistant, with instructions to mail it to Myra. Odell does not mail the signed form on May 6. At 10:00 am, May 6, Myra calls Nic to say the deal is off.
May 7, Odell mails the form signed by Nic to Myra. When Myra receives the signed form from Nic, she refuses to sell the house to him. Nic files a lawsuit against her for breach of contract.
- Which contract law applies to this case: UCC or common law?
- What is the court likely to rule on the breach of contract claim? And why?
Case B: Ed, a business person is a friend of Fran, the owner of a candy story. Every day, Ed spends a few minutes in Fran’s candy store, looking at the candy and usually buying one or two candy bars or other candy. One afternoon, Ed went in the store, looked at the candy, picked up a $1 candy bar, waved the candy bar at Fran without saying a word and left the store.
- Is there a contract between Ed and Fran? Why or why not?
- If there is a contract, what type of contract and how was it formed, specifically?
Learning Activity 2:
LA 2 will be a bit different this week. There is a written exercise, as usual, but no required response to others for LA 2.
It has been said that the best way to learn material is to teach it and to provide examples; to that end please complete the following for LA 2.
- Write a brief scenario example of a unilateral contract. Write in paragraph format.
- Explain why/how your example above is a unilateral contract. Write your explanation as if you were explaining and teaching the concepts to the class. Explain clearly, fully in paragraph format.
You must use an in text citation(s) in your explanation above.
- Post your scenario/example in Assignments under the folder, topic “Unilateral Contracts – Wk 3 LA 2”. Your work will not be visible to others.
I will grade according to the usual rubric for discussions, + I will be looking especially at accuracy of your example and explanation, and clarity of scenario/example and explanation.