QuickHelper

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About QuickHelper

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Teaching Since: May 2017
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  • MBA, PHD
    Phoniex
    Jul-2007 - Jun-2012

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  • Corportae Manager
    ChevronTexaco Corporation
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Category > Management Posted 06 Oct 2017 My Price 7.00

On Tuesday, Sam offered to sell his CD collection to Sandy for $100.

On Tuesday, Sam offered to sell his CD collection to Sandy for $100. Sandy replied, "I'm interested. I'll think it over and let you know Thursday whether I want to buy the CDs." On Wednesday, Sam agreed to sell the CDs to Jason, and Jason immediately gave Sam a letter that stated:

"Sam, I will buy your CD collection for $100. As we agreed, I will pay you on Friday when I pick up the CDs. Yours truly, Jason."

Upon Sam's receipt of this letter on Wednesday, what best describes Sam’s contract agreement(s)?

A. By forming an agreement with Jason, Sam breached his contract with Sandy because he did not effectively revoke his offer to Sandy.

B. Sam has formed contracts with both Jason and Sandy because Sam did not effectively revoke his offer to Sandy and created an enforceable written agreement with Jason.

C. Sam and Jason have formed a valid, enforceable contract; Sam’s offer to Sandy was properly revoked.

D. Sam effectively revoked his offer to Sandy, but has not formed an enforceable contract with Jason because Jason has not yet paid for the CD collection.

 

Answers

QuickHelper
(10)
Status NEW Posted 06 Oct 2017 12:10 PM My Price 7.00

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