Jim Is the Manager of an Electronic Store

question 119

Multiple Choice

Jim is the manager of an electronic store.Tom is an electronics distributor.On August 1,Jim calls Tom and orders 25 video game systems for $6,000.On August 5,Tom sends Jim an e-mail confirming his order of 25 video game systems for $6,000.On August 20,Jim replies to Tom's email and Jim says he no longer wants the 25 video game systems.Tom ignores Jim's emails and ships the video game systems to Jim.Tom sues Jim for $6,000,who wins and why?

• A) Jim wins because the Statute of Frauds has not been satisfied.
• B) Jim wins because the Statute of Frauds has been satisfied, but Jim properly rejected the order.
• C) Jim wins because although a contract was created over the phone, Jim properly rejected the order.
• D) Tom wins because a contract was created when he sent his e-mail and Jim did not properly reject the order.
• E) Tom wins because an irrevocable contract was created when Jim placed his order over the phone.

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Definitions:

Mean

The mean value of a collection of numbers, obtained by dividing the total sum of the numbers by the quantity of numbers in the collection.

Median

The middle value in a dataset when it is arranged in ascending or descending order, or the average of the two middle values when the dataset has an even number of observations.

Interquartile Range

A measure of variability, calculated as the difference between the 25th and 75th percentiles of a data set.

Mean

The average value of a data set, calculated by summing all observations and dividing by the number of observations.