Answered Essay: In the following scenarios, state each person’s role (offeror or offeree), whether there has been an

In the following scenarios, state each person’s role (offeror or offeree), whether there has been an offer, acceptance, rejection, revocation, counteroffer or none of these, and whether there is a contract.

NOTE: There could be more than one offer in a scenario and therefore, more than one offeror and offeree.

Susan: I will sell you my car for $500. Jane: Let me think about it. Susan: Nevermind, I don’t want to sell it anymore.

Dan: I will sell you my car for $500. Steve: No thanks. I have seen your car!

George: I will sell you my motorcycle for $1,000. Susan: No, I don’t want it for $1,000. Susan: But I’ll give you $750 for it. George: No way it is worth two time that much!

Al: I will sell you my car for $500. Bob: I will give you $400 for it. A: Make it $450. Bob: Ok, it’s a deal.

George: I will sell you my motorcycle for $1,000. Susan: No, I don’t want it for $1,000. Susan: But I’ll give you $750 for it. George: No way it is worth two times that much! Susan: Ok, Ok, I’ll take it for $1,000.

Expert Answer

Answer

1) Susan is the offeror, because she’s offering to sell her car for $ 500 . Jane is the offeree, because she’s being offered by Susan to buy her car. There is an offer. but there is no acceptance. So there is no contract

2) Dan is the offeror, and Steve is the offeree. There is rejection, so there is no contract.

3) George is the offeror and Susan is the offeree. There is a counter by Susan, to which there is a rejection by George. So there is no contract.

4) Al is the offeror, and Bob is the offeree. There is a counter offer by Bob, to which there is another counter offer by Al, Finally Bob accepts the offer of Al for $ 450. Therefore, there is a contract between Al and Bob that Al will and Bob will buy his car for $ 450.

5) George is the offeror and Susan is the offeree. Susan makes a counteroffer to George’s offer. There is a rejection by George to Susan’s counteroffer. So George’s initial offer of $ 1000 stands revoked. Thereafter Susan makes an offer to buy it for $ 1000 . In this case, Susan is the offeror and George is the offeree. There is no information whether George accepted her offer. So we cannot say that it’s a contract.

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