Business Law

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SIM University DIPLOMA IN MANAGEMENT STUDIES (FULL TIME) BUSINESS LAW CA1 – Individual Assignment January 2013 ………………………………….. Peter approached you for advice on his purchase of a camera. He recently took up photography as a hobby and started to look for cameras. Based on his friends’ suggestion, he went to the IT show last weekend and bought a camera after bargaining with the sales personnel. Peter selected the camera model XYZ from a list of brochures which were distributed at the entrance of the IT show. The price indicated on the brochure was $1,500.00 with goodies bag worth $350.00 with the words in bold “WHILE STOCKS LAST”. When Peter approached the sales person, he was informed that the first batch of cameras at the price of $1,500.00 was sold out in the morning. The sales person suggested that Peter purchase the camera from the next batch but at a higher price of $1,600.00. Peter asked for the best price for the camera and the sales person replied, “Best price is $1,550.00 and don’t refer to the brochure any more. This is a different batch.” Peter responded that he would buy the camera immediately if the price could be reduced to $1,500 which was indicated in the brochure. Peter also mentioned to the sales person that he was picking up photography as a hobby and the camera with its wide range of manual settings was ideal for his photography workshop. As the crowd starting to gather at the stall, the sales person left Peter to attend to other customers. Feeling that the whole episode was a set-up, Peter went to other stalls to check the price of the camera model XYZ. He was surprised to find out that there was indeed a shortage of supply. Peter quickly rushed back to the first stall and approached the sales person. The sales person remembered Peter and told him that he only had one camera model XYZ left and it was on a ‘reserve list’ for another customer. Peter felt desperate and as he did not want to go back empty-handed, he offered to pay $1,600.00 for...
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