The Owner of a New Building Wanted Four Maple Trees,each

question 111

Multiple Choice

The owner of a new building wanted four maple trees,each six metres tall,planted on the north side of the building.Lloyd Landscaper submitted his offer of four six-metre maples planted for $800.The owner said he would pay $600 for that.Lloyd said that for $600 he would supply four smaller,five-metre trees.The owner said,"$600 for five-metre trees plus a Christmas tree for my kids." Lloyd was disgusted and said,"Forget it.I don't need this job." As he was leaving,the owner said,"All right,I'll accept your offer of $600 for the five-metre maples planted." Lloyd kept on walking.Which of the following is true?

• A)There is no contract because Lloyd's last offer had been rejected by a counter-offer.
• B)There is no contract because Lloyd's last offer was revoked.
• C)There is no contract because there is a presumption in law in these circumstances that the parties did not intend to create a legal relationship.
• D)There is no contract because Lloyd's last offer had lapsed after a reasonable time.
• E)There is a contract because at one point in the conversation Lloyd was willing to sell and the owner was willing to buy four trees.

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Definitions:

Rent Controls

Government-imposed restrictions on the maximum rent charges, intended to keep housing affordable.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a specific price level in a given period.

Black Market

An illegal trade of goods or services that are not sanctioned by the authority, often to avoid taxes or because the goods are prohibited.

Gray Market

involves the trade of legal goods through unauthorized, unofficial, or unintended channels, usually not illegal but discouraged by manufacturers.