Case Study Example

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The issues involved in this case relate to submission of a valid buy offer by a prospective buyer, acceptance of the buy offer by the owner conveyed through postal mail within the validity date, a change of decision by the owner, conveyed via telephone, within the period of…
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Case Studies Jettison, Inc. vs. Realty, Inc. The issues involved in this case relate to of a valid buy offer by a prospective buyer, acceptance of the buy offer by the owner conveyed through postal mail within the validity date, a change of decision by the owner, conveyed via telephone, within the period of validity and before the mailed acceptance is received by the buyer.
Jettison’s offer to buy is legally binding on Jettison till the date of validity i.e., till October 20th after which it there is no obligation for Jettison to honor the buy offer. Realty has the right to accept or reject the offer or make a counter proposal within the validity period. Realty can convey its decision in any manner within the validity period and it chose to initially accept the offer by a postal communication. This is a valid acceptance and is binding on Realty. The act of revocation (within the validity period) took place before the postal acceptance reached Jettison.
Acceptance once made is irrevocable and binds both parties. However, under the English Law this rule is confined in its operation only to a postal acceptance. In other cases, according to Anson,”…an acceptance can be revoked at any time before acceptance is complete, provided of course, that the revocation itself is communicated before the acceptance arrives” (Law of Contract, pp.50-51, as quoted in Law of Contracts, Bajaj & Bajaj, 2005. p.28). Thus, Realty’s acceptance is legal and binding on itself.
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2. Jettison, Inc. vs. JetKlean
The issues involved in this case relate to a valid contract for service, genuine mistake of fact and revision of contract terms. JetKlean commenced its service in good faith according to the terms of the contract but realized that its earlier understanding of the condition of the jetskis was incorrect which led to under-valuation of the service needed. According to the law, ‘Where both parties to an agreement are under a mistake as to matter of fact essential to the agreement, the agreement is void’. This is a case of mistake of fact and JetKlean is entitled to renegotiate the service charges, which may be accepted or rejected by Jettison. With regard to the jetskis which were already serviced by JetKlean, they are entitled to proportionate payment according to the terms of the original contract. Jettison’s decision to accept the increased price is correct in the given circumstances.
3. Glory Pieces vs. Buyer
Glory Pieces offered to supply Hungarian made hand-blown crystal goblets at a price of $50 each. Offer was mailed on 1st April with a validity of 15 days. Since there was no specific date of validity, it can be reasonably assumed that 15 days’ period reckons from the date of receipt of the offer by the Buyer. The sale offer was subsequently revoked by Gloria Pieces on 9th April by a fax communication, i.e., before it was accepted by the Buyer. Fax communication is a valid means of communication and affords evidence of transmittal and receipt. Hence the revocation is complete and valid.
The Buyer’s communication to Gloria Pieces which was issued on 14th April, i.e., within the original validity period, has no force of law since the original offer was effectively revoked by the Seller before acceptance by the Buyer. Further, the Buyer has
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introduced a fresh condition concerning release of payment without negotiating with the Seller and hence it is not a complete acceptance but a conditional acceptance. In other words, as on 14th April, there is no offer or acceptance and hence there can be no legally binding contract on the two parties. Gloria Pieces’ offer to sell the goods at a higher price is perfectly valid and subject to negotiation of price as well as supply terms.
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Bajaj, A. and Bajaj, P. (2005). Law of contracts, Macmillan India Ltd., New Delhi. Read More
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