Mario Responded to an Advertisement Placed by Serge in a Local

question 13

Essay

Mario responded to an advertisement placed by Serge in a local newspaper. Serge was looking for business investments, and Mario sent him a letter on October 1^st which said that he was willing to make Serge a partner in his tie-dyed T-shirt business if Serge was willing to put up $5,000. Serge received that letter on October 6^th and wrote back the same day saying he would love to get involved in the business and would send Mario a certified cheque for $5,000 as soon as the bank had transferred the money from his savings account and certified the cheque. This letter was received by Mario on October 9^th, and the certified cheque was sent on October 8^th and received on October 12^th. Meanwhile, Mario mentioned the advertisement to Sonia, and she said she would like to get into the business and would be willing to put up $8,000. Mario sent another letter to Serge, on October 4^th, which Serge received on October 7^th, saying Mario had changed his mind and would not be willing to have Serge as a partner.
a. What is the legal term for
i. Mario's letter of October 1^st?
ii. Mario's letter of October 4^th?
iii. Serge's advertisement?
iv. Serge's letter of October 6^th?
b. Discuss whether Mario and Serge have a contract or whether Mario is free to enter into a partnership with Sonia.
c. Suppose Mario's letter of October 1^st has said that there would be no commitment by him to any arrangement with Serge unless and until he received Serge's certified cheque for $5,000. Explain why this would or would not change your answer to (b).

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Definitions:

Placebo Effect

A phenomenon where a patient experiences a perceived improvement in condition due to the belief in the efficacy of a treatment, despite the treatment having no therapeutic effect.

Response Set

A tendency of some respondents to answer survey questions in a particular way, regardless of the content.

Representative Sample

A subset of a population that accurately reflects the members of the entire population.

Young Adults

Individuals in their late teens to early thirties, often considered to be in a transitional phase from adolescence to adulthood, facing unique developmental tasks and challenges.