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Do an Analysis of the scenario below and explain how you arrived to the outcome and give a conclusion.
Questions to be answer on the paper as part of analysis.
1. What is a Contract?
> Elements of a contract and how did the Contract arise.
2. Nature and type of contract
3. Formation of Contract: Offer and Acceptance
4. nature and form of sale
Pretty much do a complete analyses in the problem and arrive to a conclusion by stating which party wins the case ….I attach the PDF book use in class the professor told us to make the analysis on the topics learn from chapter 12-21.
On January 10, 2010, John received an offer in the mail from Bob to buy John’s 2008 Aton Martin DB 9
for $150,000. On January 12, 2010 John agreed in writing to the purchase price and that same day put
the acceptance letter in the mailbox which was post marked that same day. On January 14, and prior to
the delivery of the letter to Bob, John calls him on the phone and asked Bob if he received his letter of
January 12, 2010. Bob replied that he had not at which time John told him he was rejecting the offer and
would only accept $160,000 for his Aston Martin.
Bob agrees to purchase the Aston martin for $160,000. On January 15, 2010 Bob receives John’s
acceptance letter of January 12. Bob immediately calls John and tells him that they have a binding
contract for the sale of the Aston Martin for $150,000. John disagrees and tells Bob that they have a
binding contract for the sale of the Aton martin for $160,000.
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