09 Jul Business Law
Breach of Contract
Johnny, a neighbor whois not a merchant under the Uniform Commercial Code, offers to buy a car fromMark for $30,000. Mark asks Johnny for some time to thinkabout it. Johnny says sure. He writes on a piece of paper that he will keep theoffer open for two weeks.
A week later Johnny seesanother car he would rather buy. He purchases that, and then he tells Mark thathe is revoking his offer.
Two days after that Marksaid: Im sorry Johnny you made an offer in writing to buy my car. Im goingto hold you to that.
Johnny replied: Sorry Icannot do that. But I will promise to pay you $10,000 for the helpyou gave me last year around the house. Somewhat mollifiedMark accepts.
A week later and Johnnydecided to renege on that promise as well.
Fed up, Mark sued Johnnyfor breach of contract on both the promise to buy the car and the promise forthe $10,000.
Discuss whether theelements of a contract are satisfied here.
Your paper should be 500-750 words, and should include at leasttwo cited external sources.
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