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Hello
For example
A is an antique dealer and one Saturday in Nov 2007 he put a vase in the window of his shop with a sign which stated an exceptional price of 19th century potter – on offer for $500
B happened to notice the vase as he walked past the shop and thought he would like to have it. Unfortunately, he was late for a meeting so he could not go into the shop to buy it, but as soon as his meeting was finished he wrote to A agreeing to buy the vase for the stated price of $500. The letter was posted at 11am.
C came into A’s shop at 2pm and said he would like to buy the vase, but he would have to arrange the finance.
Just before closing time at 5pm . D came into A’s shop and he offered $400 for the vase. This time A agreed to sell the vase at that price and D promised to return the following Monday with the money.
On the Monday morning A received the letter from B before D could arrive to pay and collect the vase.
Please explain me that in the above scenario,
1) Is A the offeror or offeree?
2) Is B the offeror or offeree?
3)Is C the offeror or offeree?
4)Is D the offeror or offeree?Please explain me each of these individually
5) Is there a binding contract between A and B?
6) Is there a binding contract between A and C?
7) Is there a binding contract between A and D?Please explain me each of these individually
B, C and D are all offerors and A is the offeree
No for B – postal rule applies only where both parties believe it to be an appropriate medium and clearly it wasn’t in this case
Yes for C – the consideration given by C is the undertaking to go to the bank to arrange finance
Yes for D – but that now means that A has to find another vase of similar quality to sell to C
OK?
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