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York University
Administrative Studies
ADMS 2610
Robert Levine

Page 1 of 4Practice Questions and Answers for Session 2 and Two Analysis Questions2010waPractice Questions and Answers for Session 2 and Two Analysis QuestionsCreated By rlevine 02032010 0236 PMUpdated By rlevine 02032010 0238 PMANALYSISQUESTIONSWITHANSWERSSESSION2222 Example 1 A goes onto a department store where the clothes are displayed on the racks with the prices on them On some racks are sets of blouses and skirts and on other racks single blouses and skirtsA goes to a rack of sets and removes a blouse and puts it on a hanger On the blouse are two tags one which says sold as a set and one with the price of599A then goes to a rack with single garments and removes a skirt priced at600 removes the price tag and puts it on the hangerNow A takes the hanger with the blouse and skirt to the cashier and hands the cashier599The cashier looks at the price tag on the blouse and the other tag that says sold as a set and accepts the money from ALeaving aside the question of whether or not what A has done is legal discuss whether in the foregoing circumstances there is a contract providing your reasoning First this question deals with formation of a contractLeaving aside the fact that what A has done is a fraud and also illegal if the question is simply whether there is a contract completed purchase and sale based on offer and acceptance then the answer is that there is indeed a contract based on the price tag on the blouse of599 and the tag that says sold as a set which is an offer to buy by A and an acceptance by the cashier who relies on the two tags Example 2 In June B applied for shares in A Co and paid a deposit into A Cos bankB heard nothing more until the end of November when he was informed that the shares had been allotted to him and that he should pay the balance due for themHowever B refused to accept and pay for themA Co is now suing B for the price of the sharesAdvise B of hisher rightsThe court held that Bs refusal was justifiedHis offer should have been accepted if at all within a reasonable time and the period between June and November was unreasonable and excessive Example 3 On January 1st A offers to sell a property to B for17500000 and gives B an option to purchase the property until July 1stThe option reads The said option shall be exercisable by notice in writing to the seller at any time within 6 months from the date of the optionB mails his acceptance to A on February 12th but the letter never reaches ADiscuss whether A has properly exercised the option Here although in normal circumstances the postal rule might apply it does not for two reasonsFirst the option specifically says that it is exercisable by notice in writing to the seller within 6 monthsThis suggests that the seller must have notice or be aware of the buyers acceptance within the time period specifiedSecondly the post office rule will probably not operate as acceptance where it would produce a great amount of inconvenience and absurdityLooking at the words of the option as well as considering the inconvenience and 232010httpcedaresoyorkucaLotusQuickr2010wapadms2610n03Mainnsfh5694BD6E6
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