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BLO1105 Business Law

tag 0 Download 9 Pages / 2,129 Words tag 14-09-2021
  • Course Code: BLO1105
  • University: Victoria University
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  • Country: Australia

Questions:

Question 1

Josie makes a living painting watercolour pictures and selling them from her studio located in her house.

Sam indicates that would be a good price but asks Josie to hold the painting so his wife could also look at it and approve his decision. However, Sam points out that the earliest his wife could do so would be the following Tuesday, 21 February. Josie said that would be fine and gives Sam a form that reads:

The same day, Josie phones Sam and leaves a message on his answering machine saying that the painting has been sold for $900. Sam does not return the call, apparently unable to retrieve any messages due to the machine being faulty for the past few days.

Required

(i)Advise Josie whether there is a binding contract with Sam.

(ii)For the purpose of this part only, assume a contract had been formed between the parties. Explain briefly whether a breach of contract has occurred and identify the remedies that might be available.  

Question 2

The rule in Pinnel’s case expresses the requirement for consideration in simple contracts. Generally, the rule works sensibly and fairly, but there are some situations when it does not.

Discuss this statement, and explain the circumstances in which courts see it as unfair to apply this rule.

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Total 9 pages

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My Assignment Help (2021) Business Law [Online]. Available from: https://myassignmenthelp.com/free-samples/blo1105-business-law/promissory-equitable-estoppel-and-business.html
[Accessed 26 November 2022].

My Assignment Help. 'Business Law' (My Assignment Help, 2021) <https://myassignmenthelp.com/free-samples/blo1105-business-law/promissory-equitable-estoppel-and-business.html> accessed 26 November 2022.

My Assignment Help. Business Law [Internet]. My Assignment Help. 2021 [cited 26 November 2022]. Available from: https://myassignmenthelp.com/free-samples/blo1105-business-law/promissory-equitable-estoppel-and-business.html.


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