Principles of Business Law

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DIPLOMA IN BUSINESS ADMINISTRATION

PRINCIPLES OF BUSINESS LAW (BA333)
ASSIGNMENT
TERM ONE 2006

Instruction:
Answer ALL questions.
Marks will be awarded for good presentation and thoroughness in your approach. •NO marks will be awarded for the entire assignment if any part of it is found to be copied directly from printed materials or from another student. •Complete this cover sheet and attach it to your assignment.

Student declaration:
I declare that:
I understand what is meant by plagiarism.
The implications of plagiarism have been explained to me by my institution. This assignment is all my own work and I have acknowledged any use of the published or unpublished works of other people.

Student's signature: JhenNeeDate: 02/03/2006

Total number of pages including this cover page23 pages
Submission Date02/03/2006Due Date 02/03/2006
Student's ID0204-0104-L003Class CodeDBA05F104
Student's Full NameGOH JHEN NEE
Lecturer's NameMR. BRIAN
OFFICIAL USE ONLY
MARKER’S COMMENTS

Marker's NameMarks Awarded /100

ASSIGNMENT
PRINCIPLES OF BUSINESS LAW
BA 333

QUESTION 1

Allan put an advertisement in the local newspaper on 11 November to sell his sports car for $20,000. The advertisement explained very clearly the condition of the sports car.

On 12 November Benny called Allan and said he would be willing to pay $15,000 for the car. Allan said that he would only accept $18,000, and that he would let Benny have until 17 November to agree to this price.

On 14 November Benny wrote a cheque of $1,800 as a “ten percent deposit” and included this in a letter to say that he agreed to the price of $18,000. Allan received and read this letter on 16 November.

On 15 November Allan sold the sports car to his brother Alex for $17,000.

Discuss whether Allan and Benny have entered into a contract for the sports car.

[60 marks]

QUESTION 2

Write short notes on the following:

a) Specific Performance
b) Condition and Warranty
c) Intention to Create Legal Relations
d) Valid Acceptance

[40 marks]

- END OF PAPER-

TABLE OF CONTENT

No.TitleNumber of Pages
1.0Cover Paper – Goh Jhen Nee1
2.0Questions Paper 2
3.0Table of Content3
4.0Question 1 - Facts4
4.1Question 1 - Invitation to Treat 5
4.2Question 1 - Advertisement6 - 7
4.3Question 1 - Offer8
4.4Question 1 - Counter-offer9 - 10
4.5Question 1 - Lapse of Time11
4.6Question 1 - Postal Rule11 - 13
4.7Question 1 - Held14
5.0Question 2 (a) - Specific Performance15 - 16
5.1Question 2 (b) - Condition and Warranty16 - 17
5.2Question 2 (c) - Intention to Create Legal Relations18 - 20 5.3Question 2 (d) – Valid Acceptance21
6.0Reference22 - 23

FACTS

DateSequence of Events
11 NovemberAllan put an advertisement in the local newspaper to sell his sports car for $20,000 and the advertisement explained very clearly the condition of the sports car. 12 NovemberBenny called Allan and said he would be willing to pay $15,000 for the car. •Allan said that he would only accept $18,000 and that he would let Benny have until 17 November to agree to his price. 14 NovemberBenny wrote a cheque of $1,800 as a ‘10% deposit’ and included the cheque in a letter to say that he agreed to the price of $18,000. 15 November Allan sold the sports car to his brother Alex for $17,000. 16 NovemberAllan received the letter written by Benny.

Invitation to Treat

In contract law, an invitation to treat is an action by one party which may appear to be a contractual offer but which is actually inviting others to make an offer of their own. He or she can consider the invitation and accept it or may reject it. An invitation to treat may be seen as a request for expressions of interest. The distinction between an offer and an invitation to treat is important because if a legitimate contractual offer is accepted...
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