What if kathy has not sold the widgets to anyone else

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Reference no: EM133620552

Problem

Which of the following are contracts? It doesn't need to be a specific contract. Just to identify if this is or can be a contract of any kind. If not, please explain which element(s) is defective.

A. Persons Magazine sends you a magazine you didn't order. They do so again the next month and the month after. You never send the magazines back or call or write Persons to let them know you do not want the magazines. The magazine then sends you a bill for the magazines, saying that you have a contract. Is Persons right?

B. Kathy offers to sell Mary 20 widgets for $2,000 if Mary accepts within 30 days. On the 31st day, Mary calls Kathy to accept. Do Kathy and Mary have a contract?

1. What if Kathy hasn't sold the widgets to anyone else?

C. John, age 15, enters into a contract with Bill, age 19, to buy Bill's stereo for $300. Bill gets a better offer and wants out of the contract. Can he get out? How about John? Can he get out?

1. What if Bill was drunk when he agreed to accept $300 for his stereo, which is really worth $3,000?

Reference no: EM133620552

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