Does Pedro have a valid contract with Andres and he entitled to the boat? Explain with reference to all the elements of a valid contract. USE IRAC method.
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While jogging around his suburb one morning, Pedro sees a speedboat parked outside a house. There is a sign posted on the boat’s windshield saying: “For sale $9,000, Text Andres on 0409876543. Direct buyers only!” A boat lover, Pedro calls the number advertised and leaves a voice message saying that he’s happy to buy the boat for $7,000. He also leaves his return number. Andres is busy all day, and only hears Pedro’s message the next morning. He calls Pedro back; he also leaves a voice message saying that Pedro’s price is too low, but he can get the boat for $8,000. That same day, however, another buyer sees the boat and makes a $9,000 cash offer to Andres on the spot. Andres takes the money, signs over the boat’s registration papers, and the buyer tows the boat away. Pedro passes by Andres’ house and sees that boat is gone. Panicking, he listens to his voice messages and hears Andres’ message for the first time. He calls Andres right away and told him in no uncertain words that he accepts his offer. Pedro now thinks he has accepted Andres’ offer so they now have a contract. When Pedro finds out that the boat has been sold to someone else, he gets very angry. He argues that he had already accepted Andres’ verbal offer, so he had no right to sell the boat to the other buyer.
Does Pedro have a valid contract with Andres and he entitled to the boat? Explain with reference to all the elements of a valid contract. USE IRAC method.
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- While jogging around his suburb one morning, Pedro sees a speedboat parked outside a house. There is a sign posted on the boat’s windshield saying: “For sale $9,000, Text Andres on 0409876543. Direct buyers only!” A boat lover, Pedro calls the number advertised and leaves a voice message saying that he’s happy to buy the boat for $7,000. He also leaves his return number. Andres is busy all day, and only hears Pedro’s message the next morning. He calls Pedro back; he also leaves a voice message saying that Pedro’s price is too low, but he can get the boat for $8,000. That same day, however, another buyer sees the boat and makes a $9,000 cash offer to Andres on the spot. Andres takes the money, signs over the boat’s registration papers, and the buyer tows the boat away. Pedro passes by Andres’ house and sees that boat is gone. Panicking, he listens to his voice messages and hears Andres’ message for the first time. He calls Andres right away and told him in no uncertain words that he…Mysty offered to sell her car to Tim for $15 000. Tim faxed a letter to her that said, "Consider it sold. I'll bring the money to you next Monday when I pick up the vehicle. Of course, for that price, I'll want you to install a new stereo in it." Tim did not hear anything more from Mysty, but he arrived at her door the following Monday with $15 000 in cash. He was delighted to find that a new stereo had been installed in the car, but disappointed when Mysty refused to accept his money or hand over the vehicle.Mysty is required to do so because there was a valid offer and acceptance. – Is this true or false?Very briefly, explain why this is true/falseHansel has been driving her Jaguar X-Type luxury car for many years and has now decided to sell her Jaguar and buy a new one. She puts an advertisement in the newspaper saying “Great condition X-Type Jaguar for sale - £3,000, Contact Number 012100000“. Wolfgang texts her and says that he is willing to buy the car from her for £3,000 and “unless he hears back from her by Saturday he will assume that the car is his”. Hansel is busy and does not respond. On Thursday, Rasputin reads the newspaper and calls Hansel. He offers to buy the car for £2,750. Hansel accepts the offer and sells the car to him. On Saturday Wolfgang finds out that Hansel has sold the car and he becomes furious as he feels he had entered into a contract with Hansel a) Discuss if there has been a contractual relationship between Hansel & Wolfgang b) Discuss the validity of the contract between Hansel & Rasputin
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