Week 3 learning
activity
Learning Activity # 1
1. Myrna, a 40-year
old teacher, wants to move to Chicago because of a job offer. She owns a house in St. Louis, her current
residence, which has been appraised and valued by a professional real estate appraiser
at$500,000.
She posted a “For Sale” sign in the yard that
stated “Make an Offer”. Ned,
who is a casual friend of Myrna’s, responded to the sign and made an
appointment with Myrna to tour her house.
Later, Ned invited Myrna to dinner to discuss the house and a possible
sale. Myrna and Ned had a leisurely dinner, and 2 glasses of wine each with
dinner. At the end of dinner, Ned
offered Myrna $225,000 for her house; Myrna accepted.
Ned and Myrna signed a sales contract, but before the deal
was completed and before the deed was transferred to Ned, Myrna’s relatives
tried to urge Myrna to cancel the cancel the contract claiming that the
contract was unenforceable.
Analyze the deal between Myrna and Ned. Is the contract enforceable? Why or why not?
Learning Activity # 2
Write a brief scenario example of a unilateral contract, in
paragraph format. Explain why/how the
example above is a unilateral contract.
