He owns a priceless van gogh painting

Assignment Help Business Management
Reference no: EM131443759

The Open Offer (must be at least 1000 words) *no plagiarism*

Jimmy, an art dealer and merchant, is running out of funds. Luckily, he owns a priceless Van Gogh painting. He writes his friend Tommy. The letter says "Tommy you remember that Van Gogh painting you were interested in buying? I will offer it to you for $500,000. I will give you one month to accept this offer." Jimmy signs the letter. Tommy receives the letter, and he is very excited. He writes back two weeks later saying that he accepts, and Tommy encloses a check for $500,000. Unfortunately, Jimmy received a better offer for the painting, and Jimmy accepts that one.

  • Is there a breach of contract?
  • If so, what remedies may Tommy get?

Reference no: EM131443759

Questions Cloud

Succumb to managerial malfeasance : There have been numerous examples of organizations that have fallen and succumb to managerial malfeasance, there by causing them to fail and lose millions of dollars.
High divorce rate in the united states : Sociology (650 word essay): Identify at least four factors that are related to the high divorce rate in the United States. Why has the divorce rate increased over the course of the last century?
Construct the production possibilities frontier : Suppose the following production possibility table represents the province of Quebec. a. Construct the production possibilities frontier for cheese and tractors. b. Does this production possibilities frontier illustrate the law of increasing opportun..
Creating a project management plan : Since the company is very new to the business arena, it needs help in creating a project management plan for developing its own website.  The major tasks for the development have been identified but you need to create the timeline.
He owns a priceless van gogh painting : Jimmy, an art dealer and merchant, is running out of funds. Luckily, he owns a priceless Van Gogh painting. He writes his friend Tommy. The letter says "Tommy you remember that Van Gogh painting you were interested in buying?
Project-time management using excel : You have been hired as a business analyst by a new start-up company called Multi-Media.  Multi-Media is an interactive agency that constructs phased and affordable website marketing, providing its clients with real and measurable solutions that ar..
At what price the price elasticity of demand equal to zero : Suppose the demand for the IBM personal computer is: Qd= 2400 - 4p (a) At what price is the price elasticity of demand equal to zero?
Equity in the computation of jackit wacc : If the common shares are selling for $28.00 per share, the preferred share are selling for $13.50 per share, and the bonds are selling for 98.00 percent of par, what would be the weight used for equity in the computation of JackIT's WACC?
Differentiate microeconomics or macroeconomics : Question: Would the following topics be covered in microeconomics or macroeconomics? a. the effects of an increase in the supply of lumber on the home-building industry b. changes in the national unemployment rate c. the effect of interest rates on t..

Reviews

Write a Review

Business Management Questions & Answers

  Demonstrate understanding of the concepts

In your discussion refer to the text, quote directly from the text to substantiate , expand your discussion  and to demonstrate your understanding of the concepts/strategies described especially in Chapter 11 and 13. Include concepts learned in Le..

  Most common communication models

Message rejection, misunderstanding and misinterpretation constitute ineffective communication. QUESTION: State and elaborate on the two most common communication models.

  Organizational distribution of resourceswill you give an

organizational distribution of resourceswill you give an analysis of inequalities in the distribution of resources and

  Relationship between strategic management

What is the relationship between entrepreneurship and strategic management? Using Miles and Snow's (1984) typology of firms, discuss whether certain types of firms have "innovative and entrepreneurial" personalities.

  Write a routine inquiry designed to glean information

Write a Routine Inquiry designed to glean information that you need via relevant, specific questions - Evaluate the information provided above, and determine what other factors you would need to know before booking your company's retreat at this ve..

  Describe the pros and cons of self-managed

Describe the pros and cons of self-managed and virtual teams and show projects that would benefit from the use of these two types of teams.

  Explain a conflict situation you have experienced

Explain a conflict situation you have experienced in the workplace. Describe the impact that the communication process played in deciding or escalating the conflict

  Create a form that includes areas the supervisors

Create a form that includes areas the supervisors should be graded on and the relative weight or importance assigned to each category. For example, should 30% of the weight be assigned to communication skills versus 20% for coaching skills

  What accommodations does bay city flooring company have

Will limiting Meredith's expression of her religious beliefs constitute religious discrimination in employment? What sort of accommodations does Bay City Flooring Company have to make for Meredith's religious beliefs?

  Illustrate what company situations might this statement

Contemporary best-selling management books often argue that customers are the most important element in the external environment. Do you agree? In illustrate what company situations might this statement be untrue?

  Hr administration in public and private sectorwhat are the

hr administration in public and private sectorwhat are the similarities and differences between hr administration in

  Write an appropriate bad-news message to the students

For Admissions Director Mae Brown, write an appropriate bad-news message to the students who received the message in error. Many applicants will be wondering what their real admission status is.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd