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{"ops":[{"attributes":{"bold":true},"insert":"BUSINESS LAW - CONTRACT"},{"insert":"\n"},{"attributes":{"bold":true},"insert":" "},{"insert":"\nOn February 7, Derrick posted two separate letters to Bert and Andy and informed\u00a0\nthem that he was selling his 50 inches Surround Sound television set for $300,000.\u00a0\nHe stated that they should respond by post and that the offer would remain open\u00a0\nuntil the 14thof February. Both persons received the letters in the post on the\u00a0\nfollowing day.\n\nAndy on receiving the letter thought it was a good price. He immediately called\u00a0\nDerrick stating that he was interested in buying the television set but he wanted to\u00a0\nsee it first. However, he was too busy with work and on February 10, he posted a\u00a0\ncheque for $500,000.00 to Derrick. He also informed him in the letter that he would\u00a0\ncome and collect the television set on February 16.\n\nImmediately Bert received the letter, he telephoned Derrick, but he was not around\u00a0\nto take the call, so he left a message on Derrick\u2019s answering machine stating that in\u00a0\nhis opinion the television set was overpriced and he would pay $200,000 for it.\u00a0\nDerrick retrieved the message on February 11 from his answering machine. He\u00a0\nreceived a call one hour later from Bert stating that he would purchase the television\u00a0\nset for the $300,000 as he just realized that it had surround sound and picture in\u00a0\npicture. Derrick told him that he would not sell it to him. Bert is insiting that he has\nmade a valid acceptance and will sue him.\n\nMeanwhile not hearing from Andy on the 12 the day of February, Derrick advertised\u00a0the television set for sale in the newspaper to see if he could get a higher price. Derrick was visited by John on the 13th February, who responded to the Ad. John\u00a0\ntold him that he was the famous actor \u201cJohnny B\u201d, showed him his identification\u00a0\nand gave him a cheque for $400,000 and left with the television set. On lodging the\u00a0\ncheque, later that day, Derrick discovered that there was no such account and that\u00a0\nJohnny B was a wanted crook. Derrick was embarrassed and did not report the\u00a0\nmatter to the police. The next day, after getting a tip from one of his friends who he\nhad told what had happened, he went to a pawn shop located near his home and\u00a0\nsaw the television set on a stand. The owner of the Pawn shop, Paul, told him that\u00a0\non the 13th February, a man came in and sold it to him for $200,000.\u00a0\n\nDerrick received the letter with the cheque from Andy on the 15th February and\u00a0\nAndy visited him as he stated he would, on February 16. He told Andy that he did\u00a0\nnot have a valid acceptance as he should have received the letter by the 14th\nFebruary. Andy is quite upset and has informed Derrick that he will sue him.\u00a0\n\nDerrick also informed you that he sold a 17 year old University student Crissy a12\u00a0\ninch Samsung notebook for $50,000.00 on credit of $10,000 per month but she has\u00a0\nonly made one payment. Her best friend Mary who had accompanied her to\u00a0\nDerrick\u2019s store did mention to Derrick that Chrissy had a brand new laptop and a\u00a0\none year old notebook so she did not need it, however he decided to still sell her.\n\nDerrick wants to know if he can sue Paul to recover the television set and if Andy\u00a0\nor Bert will be successful if they sue him. He also wants to recover the outstanding\u00a0\npayments from Chrissy as these are all overdue.\n\n1). Advise Derrick on all issues arising.\n"}]}
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