4.4 – Discussion: Module 4 Questions
Following the instructions in Module 1,
select and post your responses to at least two (2) of the following assigned
module discussion questions options in the corresponding Discussion Board
Forum. Choose from:
4-1 Jennings text, p. 386, Consider
“December 30, 1977: John Hancock
Insurance Company sent a commitment letter to Houston Dairy offering to loan
Houston $800,000 at 9.25 percent interest; the letter provided that acceptance
must be in writing within seven days and must be accompanied by a $16,000
letter of credit or cashier’s check.
January 17, 1978: The president of
Houston Dairy sent a letter of acceptance to Hancock along with a cashier’s
check.
January 23, 1978: Hancock cashed the
check, which went through standard company processing.
Hancock claims there is no contract
because the acceptance occurred after the offer had expired. Houston Dairy
maintains that its letter of acceptance was a new offer that was accepted by
Hancock with the cashing of the check.
Who
is correct? Is there a contract?”
4-3
Jennings text, p. 396, Consider (top of page)
Was
the failure to make the payment a failure of consideration?
Hasbro lost its rights?
