Assignment Prompt & Instructions
[>Management homework help](https://www.sweetstudy.com/fields/business-finance-management)
Discussion Tutor
**files (1)**
– ## Wk7dueresponseBUSN623.docx
**## Wk7dueresponseBUSN623.docx**
1
IG ( Respond no more than 150 words)
Hello Everyone
At first glance, this situation looks like a simple “highest bidder wins” scenario. But contract law is not about who offers the most money. It is about whether a binding agreement was formed and when that happened.
Emerson’s sign that says “For Sale – asking $4,900. AS-IS” is not technically a legal offer. Under common law, advertisements are generally treated as invitations to negotiate rather than binding offers (Cornell Law School, 2024). Emerson was inviting potential buyers to make him an offer, not promising to sell to whoever showed up first with cash.
Val was the first to make an actual offer when she wrote that she would pay $5,500 and left her signed and dated card under the windshield wiper. However, an offer alone does not create a contract. It must be accepted. Emerson never saw Val’s card before speaking with Roger. Because acceptance requires awareness and mutual assent, no contract was formed between Emerson and Val (Restatement (Second) of Contracts § 24, 1981).
Roger then offered $5,000. Emerson accepted, and they shook hands. At that moment, all the essential elements of a contract were present: offer, acceptance, and consideration. Their handshake demonstrated mutual assent. Under common law, a contract is formed once the parties agree, not when performance is completed or payment is exchanged (Lingwall, 2023). The fact that the check had not yet been handed over does not prevent formation.
This reminds me of how eBay used to work years ago. I remember bidding on used Apple iPod Nanos that were listed “as is.” Sometimes bidding wars would drive the price so high that people ended up paying almost as much as buying a brand new one in the store. But once the auction closed and the seller accepted the final bid, the deal was binding. Even if someone messaged the seller afterward offering more money, the seller could not simply cancel the winning bid without consequences. The key moment was when acceptance occurred, not when a higher price appeared.
The same principle applies here. Once Emerson accepted Roger’s offer, the contract was formed. Emerson cannot revoke that agreement simply because he later discovered that Val or Joe Don was willing to pay more. Contract law promotes certainty and reliability in transactions. If sellers could walk away every time a better offer appeared, business dealings would become unstable.
When Joe Don offered $8,000, it sounded attractive, but it came too late. Emerson had already entered into a binding contract with Roger and no longer had the legal authority to sell the car.
If I were the judge, I would rule that Roger owns the car. Val made an offer that was never accepted, and Joe Don’s offer came after a valid contract had already been formed. The first enforceable agreement controls, not the highest bid. This situation clearly demonstrates why timing and mutual assent are critical in contract formation.
References
Cornell Law School. (2024). Contract. Legal Information Institute.
[https://www.law.cornell.edu/wex/contract](https://www.law.cornell.edu/wex/contract)
Lingwall, J. (2023). Business law: A risk management approach.
Restatement (Second) of Contracts § 24 (1981).
Hh( Respond no more than 150 words)
Good evening,
In this scenario, multiple people attempted to purchase Emerson Smith’s classic car, creating several contract issues. Val Bailey left a written offer of $5,500 while Emerson was out, but he never saw it. Under common law, for a contract to exist, the offer must be communicated and accepted. Because Emerson did not know about Val’s offer, no contract was formed between them. Shortly after, Emerson agreed to sell the car to his friend Roger Dix for $5,000, shaking hands to confirm the deal. This handshake, combined with the promise of payment, satisfies the elements of a binding contract. Once Emerson accepted Roger’s offer, he was legally obligated to complete the sale and could not back out to sell to Val without breaching the contract.
Later, Joe Don offered $8,000 for the car, but his offer was conditional on the engine starting. In legal terms, this is a condition precedent, meaning a contract would only exist if the engine actually starts. Even if the engine starts, Emerson cannot sell the car to Joe because he already has a valid contract with Roger. This scenario shows how timing, communication, and awareness are essential in contract law.
Applying the six elements of a common law contract, offer, acceptance, consideration, capacity, legality, and mutual agreement, clarifies who has rights to the car. Emerson and Roger satisfy all six elements. Val’s offer fails because Emerson never knew about it, and Joe Don’s offer is conditional and cannot override the prior contract. Consideration exists in Roger’s $5,000 payment, all parties have legal capacity, the transaction is legal, and mutual assent exists only between Emerson and Roger.
Roger Dix legally purchases the car for $5,000. Val Bailey and Joe Don do not have enforceable contracts. Emerson cannot sell the car to multiple buyers at the same time, and the first valid contract, with Roger, takes priority. This case highlights the importance of communication, timing, and adhering to common law contract principles to avoid disputes.
**## Wk7dueresponseBUSN623.docx**
1
IG ( Respond no more than 150 words)
Hello Everyone
At first glance, this situation looks like a simple “highest bidder wins” scenario. But contract law is not about who offers the most money. It is about whether a binding agreement was formed and when that happened.
Emerson’s sign that says “For Sale – asking $4,900. AS-IS” is not technically a legal offer. Under common law, advertisements are generally treated as invitations to negotiate rather than binding offers (Cornell Law School, 2024). Emerson was inviting potential buyers to make him an offer, not promising to sell to whoever showed up first with cash.
Val was the first to make an actual offer when she wrote that she would pay $5,500 and left her signed and dated card under the windshield wiper. However, an offer alone does not create a contract. It must be accepted. Emerson never saw Val’s card before speaking with Roger. Because acceptance requires awareness and mutual assent, no contract was formed between Emerson and Val (Restatement (Second) of Contracts § 24, 1981).
Roger then offered $5,000. Emerson accepted, and they shook hands. At that moment, all the essential elements of a contract were present: offer, acceptance, and consideration. Their handshake demonstrated mutual assent. Under common law, a contract is formed once the parties agree, not when performance is completed or payment is exchanged (Lingwall, 2023). The fact that the check had not yet been handed over does not prevent formation.
This reminds me of how eBay used to work years ago. I remember bidding on used Apple iPod Nanos that were listed “as is.” Sometimes bidding wars would drive the price so high that people ended up paying almost as much as buying a brand new one in the store. But once the auction closed and the seller accepted the final bid, the deal was binding. Even if someone messaged the seller afterward offering more money, the seller could not simply cancel the winning bid without consequences. The key moment was when acceptance occurred, not when a higher price appeared.
The same principle applies here. Once Emerson accepted Roger’s offer, the contract was formed. Emerson cannot revoke that agreement simply because he later discovered that Val or Joe Don was willing to pay more. Contract law promotes certainty and reliability in transactions. If sellers could walk away every time a better offer appeared, business dealings would become unstable.
When Joe Don offered $8,000, it sounded attractive, but it came too late. Emerson had already entered into a binding contract with Roger and no longer had the legal authority to sell the car.
If I were the judge, I would rule that Roger owns the car. Val made an offer that was never accepted, and Joe Don’s offer came after a valid contract had already been formed. The first enforceable agreement controls, not the highest bid. This situation clearly demonstrates why timing and mutual assent are critical in contract formation.
References
Cornell Law School. (2024). Contract. Legal Information Institute.
[https://www.law.cornell.edu/wex/contract](https://www.law.cornell.edu/wex/contract)
Lingwall, J. (2023). Business law: A risk management approach.
Restatement (Second) of Contracts § 24 (1981).
Hh( Respond no more than 150 words)
Good evening,
In this scenario, multiple people attempted to purchase Emerson Smith’s classic car, creating several contract issues. Val Bailey left a written offer of $5,500 while Emerson was out, but he never saw it. Under common law, for a contract to exist, the offer must be communicated and accepted. Because Emerson did not know about Val’s offer, no contract was formed between them. Shortly after, Emerson agreed to sell the car to his friend Roger Dix for $5,000, shaking hands to confirm the deal. This handshake, combined with the promise of payment, satisfies the elements of a binding contract. Once Emerson accepted Roger’s offer, he was legally obligated to complete the sale and could not back out to sell to Val without breaching the contract.
Later, Joe Don offered $8,000 for the car, but his offer was conditional on the engine starting. In legal terms, this is a condition precedent, meaning a contract would only exist if the engine actually starts. Even if the engine starts, Emerson cannot sell the car to Joe because he already has a valid contract with Roger. This scenario shows how timing, communication, and awareness are essential in contract law.
Applying the six elements of a common law contract, offer, acceptance, consideration, capacity, legality, and mutual agreement, clarifies who has rights to the car. Emerson and Roger satisfy all six elements. Val’s offer fails because Emerson never knew about it, and Joe Don’s offer is conditional and cannot override the prior contract. Consideration exists in Roger’s $5,000 payment, all parties have legal capacity, the transaction is legal, and mutual assent exists only between Emerson and Roger.
Roger Dix legally purchases the car for $5,000. Val Bailey and Joe Don do not have enforceable contracts. Emerson cannot sell the car to multiple buyers at the same time, and the first valid contract, with Roger, takes priority. This case highlights the importance of communication, timing, and adhering to common law contract principles to avoid disputes.