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COMM 393 (60)
Chapter

Case Brief – Montane Ventures Ltd. V. Schroeder - Offer and Acceptance.docx

2 Pages
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Department
Commerce
Course Code
COMM 393
Professor
Patricia Mallia

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Description
Case Brief – Montane Ventures Ltd. V. Schroeder (2000) Facts - Montane and Mr. Schroeder on September 3 and 4, 1999, negotiated a contract of purchase and sale which provided that Montane would purchase a property from Mr. Schroeder at $215,000 with the sale completed on November 30, 1999 - Mr Schroeder was experienced in real estate business - September 8, 1999 – Mr. Schroeder faxed Mr Jeves (Montane’s realtor) information regarding the lease, requested that Montane initial and return a copy of the fax - Mr Schroeder asked Mr Jeves to phone him and discussed the alterations done to the property which had been performed for the leased premises - September 9, 1999 – Mr Jeves forwarded an addendum to the agreement removing the subject to clause regarding the lease with the Internet Café o Mr. Jeves added: Seller agrees to provide final inspection certificates for alterations re lease by Sep 22, 1999 - Mr Schroeder wanted $225,000 for the property, $10,000 increase from parties’ earlier agreement; takes the position that buyer repudiated the original contract or made counter offer Issues: • Does the addendum constitute as repudiation (refusal) or a counter-offer (rejection of agreement)? • Is the preparation of a further document a condition precedent to the creation of a contract or is it an incident in the performance of an already binding obl
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