On June 1, Maureen Sent a Letter to Joel That

question 31

Essay

On June 1, Maureen sent a letter to Joel that offered to sell 10 000 shares in Tadpole Inc (a computer software company) for $5 each.Her letter did not require Joel to respond by any particular date.On June 3, Tadpole Inc publicly announced that its engineers had perfected a new technology that would revolutionize the electronic commerce industry.By June 4, the price of a single share in the company had increased to $100.On June 6, Joel returned from his cottage and learned of both Maureen's offer and the price of Tadpole Inc shares.He promptly sent a letter to Maureen that said, "I accept your offer.I will pay a total of $50 000 for 10 000 shares in Tadpole Inc." Maureen obviously no longer wants to sell her shares under the price that she quoted in her offer.Discuss the factors that a court would consider in deciding whether or not she and Joel had created a contract.

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Definitions:

Adaptation

The process by which a species becomes fitted to its environment; it is the result of natural selection acting upon heritable variation.

Genes

Units of heredity made up of DNA that are responsible for determining the characteristics of an organism.

Operant Conditioning Procedure

A method of learning that employs rewards and punishments for behavior, encouraging the occurrence of desired behaviors and discouraging undesired ones.

Jump Through Hoop

A metaphorical expression meaning to go through many difficult or unnecessary tasks or obstacles to achieve a goal.