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Business and Company Law: answering the questions - Essay Example

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Business and Company Law Question One The Precise Nature of John’s Advertisement Offer and acceptance provide the means by which courts analyze the negotiating process to determine whether a contract has been entered into, the time the contract was made and the primary terms and conditions of the contract (Gibson v Manchester City Council, 1978)…
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Business and Company Law: answering the questions
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Download file to see previous pages A valid offer thus contains a proposed terms for an exchange and an indication that the offeror is willing to be bound when the offeree accepts the offer. In assessing the extent to which John’s offer is a valid offer manifesting an intention to create legal relations, the courts will apply an objective test. In doing so, the question is the offeror’s conduct was such that a reasonable person would believe that an offer was being made and the offeree believes that the offer is a genuine one and not insincere (Harvey v Facey, 1893). However, there is an exception to the display of goods in a shop window and shop signs which are described as invitations to treat rather than offers (Pharmaceutical Society v Boots Chemists, 1953). However, this rule is not rigidly applied and depends on the intent of the advertisement. For instant an advertisement that demonstrates a serious intent to satisfy a promise if certain conditions are met will not be treated as an invitation to treat, but rather an offer (Carbolic Smoke Ball Co., 1893). The fact that John owns an art gallery and placed the advertisement in the window of his Art Gallery, would indicate that his conduct is such that his offer is genuine and certainly any reasonable person would be led to believe that he was making a serious offer. It therefore follows that John is making an offer to enter into a legally binding contract, and that is the precise nature of his advertisement. Whether Mick has Entered into A Binding Contract with John Acceptance should generally mirror the offer made in order to form a legally binding contract. The acceptance must correspond with the offer in order to form a valid contract and should be communicated to the offerer in the form required by the offer (Chen-Wishart, 2008). John offered to sell a Matisse Painting for 5000 pounds cash to the first person who accepts it on Saturday the 12th and that the offer would expire after one day. Mick’s acceptance did not mirror John’s offer. Although Mick’s acceptance was in writing, posted and arrived on time, he offered to pay 4,800 pounds. Thus the offer of 4,800 pounds does not match John’s offer. Mick’s acceptance suggesting a sale for 4,800 pounds instead of 5,000 pounds as stipulated in the John’s offer, represents a counter-offer and effectively dispenses with the original offer. For instance in Hyde v Wench (1840), the defendant offered to sell a farm to the plaintiff for 1,000 pounds and the plaintiff indicated that he could only afford 950 pounds. The defendant did not agree to the reduced sale, and the plaintiff then relented agreeing to pay the original 1,000 pounds requested. However, the defendant refused to sell the farm for either sum. It was held that the plaintiff’s statement that he could only pay 950 pounds was counter offer which effectively meant that the original offer was essentially removed from the negotiations and there was no obligation to sell the property for 1,000 pounds. It therefore follows that since Mick effectively rejected John’s offer by making a counter offer, John is under no obligation to sell the painting to Mick. There is no contract and thus there is no obligation to continue negotiating with Mick. Since John was not interested in Mick’s counter offer, he had no obligation to communicate this rejection of the counter offer (Chen-Wishart, 2008). Whether Ronnie has any Right of Action Against John Ronnie’ ...Download file to see next pagesRead More
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