Need help in ACCA F4 Corporate and Business Law (Global) Monday 10 December 2012

Art is an international trader in rare Persian rugs. In June 2012 he received a delivery of an exceptional rug and wrote to his three most frequent international clients, Bon, Con, and Dan saying that he was offering to sell the rug for $100,000. Bon immediately responded that he accepted the offer of the rug but was only willing to pay $75,000. Con also replied immediately, stating that he accepted Art’s offer but that he would not be able to pay the full amount before September. Dan replied that he would pay the offered price, but only if Art could supply an additional four rugs of equal quality. Before receiving any of these replies, Art actually sold the rug to Ek, a local client, for $105,000. Required: In the context of the rules governing the creation of contracts under the UN Convention on Contracts for the International Sale of Goods, advise: (a) as to the precise legal nature of Art’s original letter; (b) whether Bon has any right of action against Art; (c) whether Con has any right of action against Art; (d) whether Dan has any right of action against Art