Exercise 2
An Offer you Can’t Refuse . . . or can you?
Jane advertises her home-built ultra light aircraft for sale in the classified section of the local newspaper. The advertised price is “$5,000 ono”. Peter, a friend of Jane, phones Jane and says:
“I’ll give you $4,500 cash in hand for your ultra light.”
Jane replies: “I’ll think about it and let you know by tomorrow.”
Five minutes after this conversation a Mr Jones phones inquiring about the ultra light and offers $4,500. Jane accepts and Mr Jones pays a deposit of $1 that afternoon.
Peter phones Jane later that afternoon and says he has reconsidered and is prepared to pay the full $5,000. Advise Jane as to her legal obligations in respect of the sale of the ultra light.
An Offer you Can’t Refuse . . . or can you?
Jane advertises her home-built ultra light aircraft for sale in the classified section of the local newspaper. The advertised price is “$5,000 ono”. Peter, a friend of Jane, phones Jane and says:
“I’ll give you $4,500 cash in hand for your ultra light.”
Jane replies: “I’ll think about it and let you know by tomorrow.”
Five minutes after this conversation a Mr Jones phones inquiring about the ultra light and offers $4,500. Jane accepts and Mr Jones pays a deposit of $1 that afternoon.
Peter phones Jane later that afternoon and says he has reconsidered and is prepared to pay the full $5,000. Advise Jane as to her legal obligations in respect of the sale of the ultra light.
