The Open Offer, business and finance homework help

Jan 11th, 2017
RockCafe
Category:
Accounting
Price: $10 USD

Question description

The requirements below must be met for your paper to be accepted and graded:

  • Write between 500 – 750 words (approximately 2 – 3 pages) using Microsoft Word.
  • Attempt APA style, see example below.
  • Use font size 12 and 1” margins.
  • Include cover page and reference page.
  • At least 60% of your paper must be original content/writing.
  • No more than 40% of your content/information may come from references.
  • Use at least two references from outside the course material, preferably from EBSCOhost. Text book, lectures, and other materials in the course may be used, but are not counted toward the two reference requirement.

 The Open Offer 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? The requirements below must be met for your paper to be accepted and graded:  Write between 500 – 750 words (approximately 2 – 3 pages) using Microsoft Word.  Attempt APA style, see example below.  Use font size 12 and 1” margins.  Include cover page and reference page.  At least 60% of your paper must be original content/writing.  No more than 40% of your content/information may come from references.  Use at least two references from outside the course material, preferably from EBSCOhost. Text book, lectures, and other materials in the course may be used, but are not counted toward the two reference requirement. Reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) must be identified in the paper and listed on a reference page.Reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) must come from sources such as, scholarly journals found in EBSCOhost, online newspapers such as The Wall Street Journal, government websites, etc. Sources such as Wikis, Yahoo Answers, eHow, etc. are not acceptable.

Tutor Answer

(Top Tutor) Daniel C.
(997)
School: Rice University
PREMIUM TUTOR

Attached.

Running head: CONTRACT BREACH

1

Contract breach
Student’s Name
Institutional Affiliation
Course Name
Date

CONTRACT BREACH

2

A contract breach failure to perform any term of a contract, written or oral, without a
legitimate legal excuse. A breach in contract entails so many activities such as not completing a
job, not paying in full or on time, failure to deliver all the goods, substituting inferior or
significantly different goods, not providing a bond when required, being late without excuse, or
any act which shows the party will not complete the work ("anticipatory breach.") ("Remedies for
Breach of Contract," n.d.). A con...

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