Description
Johnny, a neighbor who is not a merchant under the Uniform Commercial Code, oFers to buy a car fromMark for $30,000.Mark asks Johnny for some Tme to think about it. Johnny says sure. He writes on apiece of paper that he will keep the oFer open for two weeks.A week later Johnny sees another car he would rather buy. He purchases that, and then he tells Markthat he is revoking his oFer.±wo days a²er that Mark said: “I’m sorry Johnny you made an oFer in wriTng to buy my car. I’m going tohold you to that.”Johnny replied: “Sorry I cannot do that.But I will promise to pay you $10,000 for the help you gave melast year around the house.”Somewhat molli³ed Mark accepts.A week later and Johnny decided to renege on that promise as well.´ed up, Mark sued Johnny for breach of contract on both the promise to buy the car and the promise forthe $10,000.•Discuss whether the elements of a contract are saTs³ed in this case.±he requirements below must be met for your paper to be accepted and graded:•Write between 500 – 750 words (approximately 2 – 3 pages) using Microso² Word.•Aµempt APA style, see example below.•Use font size 12 and 1” margins.•Include cover page and reference page.•At least 60% of your paper must be original content/wriTng.•No more than 40% of your content/informaTon may come from references.•Use at least two references from outside the course material, preferably from EBSCOhost.±extbook,lectures, and other materials in the course may be used, but are not counted toward the two referencerequirement.Reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) must be idenT³ed inthe paper and listed on a reference page.Reference material (data, dates, graphs, quotes, paraphrasedwords, values, etc.) must come from sources such as, scholarly journals found in EBSCOhost, onlinenewspapers such as ±he Wall Street Journal, government websites, etc.Sources such as Wikis, YahooAnswers, eHow, etc. are not acceptable.
