Acme Equipment offers to sell a dough-cutting machine to Big Bagels Inc

Acme Equipment offers to sell a dough-cutting machine to Big Bagels Inc. The offer states: “This offer expires Friday noon.” Acme is based in Boca Raton, Florida. Big Bagels is based in Los Angeles, California. On Friday, at 10:00 am Eastern time (Florida time), the sales manager for Acme calls the president of Biscuits and says, “Well, I guess you don’t want it. Contract is terminated.” What are the elements of a valid offer? Was this a valid offer, and why? Should this contract be terminated, and why?

Acme Equipment offers to sell a dough-cutting machine to Big Bagels Inc

1) Acme Equipment offers to sell a dough-cutting machine to Big Bagels Inc. The offer states: “This offer expires Friday noon.” Acme is based in Boca Raton, Florida. Big Bagels is based in Los Angeles, California. On Friday, at 10:00 am Eastern time (Florida time), the sales manager for Acme calls the president of Biscuits and says, “Well, I guess you don’t want it. Contract is terminated.”

Firstly, What are the elements of a valid offer?

Secondly, Was this a valid offer, and why?

Thirdly, Should this contract be terminated, and why?

2) Yellow Heating Inc. offers to ship furnaces to Zippy Inc. for $4,500 cash. Zippy’s CEO e-mails back, “Great, I accept, as long as we can make that payable in three weeks, not tomorrow.”

Firstly, What are the elements of a valid acceptance?

Secondly, Was this a valid acceptance and why?

3) On Monday morning, Andy and Brian enter an oral, unwritten contract for the sale of five acres of land in Delray Beach, Florida, at “$10,000 per acre.”

On Tuesday morning, Andy demands that Brian pay him “$11,000 per acre” for the land. Brian refuses. Andy sues.

Firstly, Who should win, and why?

Further, In your answer, explain written/oral and implied/express contracts.

4) Abby is a brilliant 16-year-old high school student who has invented “The Spritzer,” a device to keep vegetables fresh in the refrigerator. Abby goes to TGI Thursday’s restaurant, where she meets up with Brianna, the 23-year-old sister of Abby’s best friend. They sit down for a bite to eat. Brianna has four vodka-and-tonics, Abby has a Coca-Cola. Brianna and Abby write a contract on a sheet of paper, and sign it, stating that Brianna promises to pay Abby $100,000 for all rights in The Spritzer.

Firstly, Is this a valid contract?

Secondly, what are the reasons why this might not be a valid contract?

Lastly, you shall be grade d on your complete and proper explanations, research and language usage, all as note d below.

The report must be no more than 1,000 words .

A report that does not follow this form will be deducted per the grading rubric. Finally, this project is 15% of your overall grade.

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