writing-john-had-been-negotiating-with-monica-about-selling

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This is the case:

John had been negotiating with Monica about selling her a valuable antique. On 1 June he promised to give her time to think about the terms of the agreement.

On 2 June Mark made John a very attractive offer for the antique. Mark was anxious to close the deal quickly and insisted on having his agent draw up a memorandum of sale outlining the terms of the contract. John agreed. However, he stated that any agreement was made subject to a condition that he first obtain legal advice concerning any contractual obligations he might have to Monica. Mark wishes to finalise the sale and insists that the antique is his.

a) Discuss the likely outcome giving reasons.

b) Explain in detail if your answer would be different if John’s statement concerning obtaining legal advice was not included in the memorandum of sale. Monica insisted that the antique is hers.

Actually just few questions confused me,would be great if you can give me answers:

1.To find the likely outcome, I should start with examinewhether an actual contract exist among those parties ( John, Monica, Mark) right?

2.and I think between John and Monica, there is no contract formed yet, as John only intended to sell the antique to Monica and she has not came up with terms and agreement. Is that correct?

3.Between John and Mark, is there a contract yet?

My understanding is as Mark made an attractive offer and having his agent draw up a memorandum, John agreed, seem they have formed a contract. However, John stated that any agreement was made subject to…… he might have to Monica.

the use of expressions ” subject to ” indicates John is not intending to enter into contractualrelationsimmediately, right ?

4.Accordingto “Promissory estoppel ” , it will allow a promise to be enforced even though the promisee has not providedconsiderationfor that promise.

As John first promised gave Monica some time to think, but then he agreed to sellantiqueto Mark, it’s a kind of promise breaking.

if my thinkings were correct in previous questions as there is no actual contract between both John & Monica and John & Mark.could the doctrine of promissory estoppel be applied in this circumstance?

How about situation b ) can promissory estoppel be applied here?

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Title: writing-john-had-been-negotiating-with-monica-about-selling

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