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    Jay23's Avatar
    Jay23 Posts: 5, Reputation: 1
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    #1

    May 23, 2008, 10:58 AM
    Contract law
    Hi all,

    I have this question

    Mayer wrote Jackson on July 1, 2006 and offered to sell Jackson a building for $150,000. The offer stated it would expire on July 31,2006. If a legal dispute arises between the parties regarding whether there has been a valid acceptance of the offer, which of the following is correct?

    1. The offer cannot be legally withdrawn for the stated period.

    2. The offer will not expire prior to July 31, even if Mayer sells the property to a third person and notifies Jackson.

    3. If Jackson phone Mayer on August 5 and unequivocally accepted the offer, it would create a contract, provided he had no notice of withdrawal of the offer.

    4. If Jackson rejects the offer on July 10th, Jackson cannot validly accept within the remaining stated period.



    Please help

    Thanks,

    Jak
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    May 23, 2008, 01:09 PM
    Great first year law question on contracts. Yes there is a correct answer.

    What do you think and why. We don't do homework here but will help you find the answers.

    1. can a offer be withdrawn ?
    2. what happens when a offer is rejected ?
    3. what exactly is required for a valid offer?
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