Assignment: Offer and Acceptance
Instructions
John Doe offers to sell his polo shirt to Jane Doe for $60.00. Jane Doe considers the offer and decided to accept. Thereafter, she pays John Doe $60.00.
Question:
Does John now have to tender his shirt to Jane after accepting her $60.00. Why or why not? 2 paragraphs minimum.
Requirements
· The length of your response is conditional on the question. Answer fully, but concisely. At least 2 paragraphs minimum
· Your submissions should be submitted via the assignment dropbox in .doc or .docx format, using 12 pt type and SINGLE spacing.
· See the syllabus regarding Turnitin requirements.
· If you use any direct quote from an outside source, it must be quoted ” ”
SAMPLE ANSWER
Yes, John Doe is obliged to tender his shirt to Jane Doe after accepting her $60.00 payment. When John made an offer to Jane to sell his polo shirt for $60.00, he created a legally binding contract between them. According to contract law, an offer made by one party can be accepted by the other party, and this creates a mutual obligation to perform the terms of the contract. In this case, the terms of the contract were that John would sell his shirt to Jane for $60.00. By accepting the offer and paying the agreed-upon price, Jane has fulfilled her part of the contract. Therefore, John must now fulfill his obligation by tendering the shirt to her.
The principle of contractual obligation is a fundamental aspect of contract law. The parties to a contract are bound by their promises and must fulfill their obligations under the terms of the contract. Failure to do so can result in legal consequences. In this case, if John refuses to tender the shirt to Jane after accepting her payment, he would be in breach of the contract. Jane would then have the legal right to seek remedies such as specific performance, where the court orders John to fulfill his obligation by giving Jane the shirt, or damages, where she could seek compensation for any losses incurred as a result of John’s breach of the contract.
References:
Knapp, C. L., Crystal, N. M., & Prince, H. G. (2017). Problems in contract law: cases and materials. Wolters Kluwer.
Australian Competition & Consumer Commission. (2022). Contracts and agreements. Retrieved from https://www.accc.gov.au/business/business-rights-protections/contracts-agreements.