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Sammy decided she was ready to sell her classic sports car.

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Sammy decided she was...

Sammy decided she was ready to sell her classic sports car. On May 1 and in the following order, she telephoned Bob, Carl, Dan, and Edna, each of whom had earlier expressed interest in buying the car. She was unable to make actual contact with any of them, so she left the following message on each one’s telephone answering machine: “I’m ready to sell my car, which I know you’ve expressed interest in. The price is $10,000. My offer is good until the end of today, May 1. If you’re still interested, call me back by the end of today so I’ll know for sure.” Bob, Carl, and Dan each called back at a time when Sammy was out running errands. They each left a message on Sammy’s telephone answering machine. Bob’s message said, “The price is pretty high, so I’ll have to think about it.” Carl’s message said, “I think the price is too high, but I’d be willing to pay you $9,000.” Dan’s message said, “OK, I’ll pay your price but only if you’ll let me take the car to my mechanic so he can check it out first.” Edna, rather than call Sammy back, mailed Sammy a letter on May 1 stating, “I got your message, and I accept your offer and will pay $10,000.” On May 2, Sammy died. Doug was appointed as executor for Sammy’s estate, and as such had all powers to deal with the estate property. Bob, Carl, Dan, and Edna each said to Doug, “I accepted Sammy’s offer on May 1, and, in any event, I will buy the car as is and for Sammy’s asking price.” Doug tells them each that their so-called acceptances were not valid and that their power of acceptance has already terminated. Is Doug correct? Explain fully in an IRAC outline answer.Instructions: Please write the following Hypothetical in an IRAC format within one (1) hour.

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Submitted: 2 years ago.Category: Business and Finance Homework
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Business Tutor: Mr. Gregory White, Master's Degree replied 2 years ago

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