SOLVED

[Used Car Sales] Edwin sells used cars. He is looking for a way to increase sales and profits so that he can take his girlfriend on a nice diving trip to the Grand Cayman Islands. The first thing that Edwin does is say that during the first week of December, he will give a $500 rebate on used cars that are under two years old. To spice things up, he also offers to sell any car on the lot that is over five years old for $1,000 to the first three customers who can jump rope for ten hours straight on December 7th. Edwin was not very concerned about the jumping rope issue because he thought that no one would be able to jump rope for ten hours straight. Edwin put an advertisement pertaining to the rebate and the jump rope opportunity in the local newspaper. The promotion went over very well. Although Edwin had several cars available, he ran out of cars under two years old within one day. During the rest of the week shoppers were told that cars of that description were no longer available. Josh was very angry at Edwin for not having a car available that was under two years old so that he could get a good deal and a $500 rebate. On December 7th, while Edwin was watching people jump rope, Brandi was shopping for a car. She was in college and did not have much money. She saw one, an older car, a real clunker, that she liked; but wasn’t sure if it could be repaired sufficiently to be dependable. Edwin had not even put a price on it because he planned to have it crushed. Brandi was going to talk to her parents about it. Edwin eventually approached her, and Brandi asked him if he would take $450 for the car. Edwin said, “Yes, sold.” Brandi tried to explain that she needed to talk to her parents first, but Edwin would not hear of it. While Edwin was still fuming from his encounter with Brandi, Zack walked up and started to criticize the nature of Edwin’s inventory. Edwin told him that he had great cars. Zack pointed at a beater that was banged up, had 200,000 miles on it, and a cracked windshield. Zack said, “Sure, I’ll pay $100,000 for that car!” Edwin said, “Sold.” Zack said, “Wait a minute. I was only kidding.” Edwin said, “No way.” Meanwhile all the people jumping rope dropped out well prior to ten hours except for Emma. She completed the jumping rope and asked for her car for $1,000. Edwin refused saying that the offer was revoked. Josh and Emma sued Edwin, and Edwin sued Zack and Brandi. Under the applicable law in Edwin’s state, common law will be applied, and there are no state statutes impacting the situation. 76) Which of the following is the most likely result in the lawsuit brought by Josh complaining that Edwin ran out of cars available for a rebate? A) Josh will win because Edwin should have run another ad revoking the offer. B) Josh will lose because a court would interpret the intent of Edwin as being to invite readers to make an offer that Edwin was free to reject. C) Josh will lose because he did not properly accept the offer. D) Josh will win because Edwin was required to have sufficient cars on hand for anyone who requested one. E) Josh will win because a rebate was involved. 77) What is the most likely result in Edwin’s lawsuit against Brandi in which he claims that she must pay $3,000 for the car at issue? A) Edwin will win because Brandi made an offer that he properly accepted. B) Brandi will win because she was not provided sufficient time in which to consider the offer. C) Brandi will win because the agreement was not put into written form and signed by both parties. D) Edwin will win because Brandi agreed to pay a reasonable amount for the vehicle. E) Brandi will win because she merely expressed interest and did not make an offer. 78) What is the most likely result in the lawsuit brought by Edwin against Zack? A) Zack will win because under an objective standard, it appears he was joking. B) Edwin will win because Zack properly made an offer that Edwin accepted. C) Zack will win because under a subjective standard he was joking. D) Zack will win because he was merely expressing possible interest. E) Zack will win because Edwin did not properly accept. 79) What is the most likely result in the lawsuit brought by Emma against Edwin? A) Emma will win because she properly made an offer that was accepted by Edwin when she did the hula hooping. B) Edwin will win because he properly revoked the offer. C) Edwin will win because he was only engaged in preliminary negotiations. D) Emma will win because the ad would be treated as an offer that she properly accepted. E) Edwin will win because the advertisement was simply inviting customers, such as Emma, to make an offer. [Saturday Auction] Randy, an auctioneer, held an auction on a Saturday morning. At the beginning of the auction, Randy announced that the auction was being held without reserve. Erin, Maria, and Steve were all in attendance. Erin saw an old cash register with a stuck drawer that she thought would look great in her den. The auctioneer put the cash register up for sale noting that the drawer was stuck but that it could probably be fixed with little effort. Erin bought it for $20. When she got it home, she discovered that it actually contained $5,000 in cash. Unfortunately, Erin had a teenage son who started bragging to his friends about the family’s good fortune. Randy heard about what had happened and sued Erin for return of the $5,000. At the same auction, Maria saw a great deal on a used table, and bid $20 on it. No one else bid anything. Randy announced that $20 was clearly insufficient for the table, that it was worth much more than that, and that he was taking it out of the auction. Steve started bidding on a diamond ring for his girlfriend. He bid $2,000. Just as Randy was getting ready to say “Sold,” Steve looked over at his girlfriend, decided that he was not sure about marriage, and jumped up yelling “I revoke.” Randy, however, immediately after, yelled “Sold.” Randy sues Steve attempting to obtain the money for the engagement ring. Randy also sues Erin seeking to recover the $5,000 contained in the stuck drawer. Maria sues Randy attempting to obtain possession of the table. 80) In the lawsuit in which Randy sues Erin for return of the $5,000, which of the following is the most likely result? A) Randy will lose only because he was not the actual seller. He was only selling at auction for someone else. The seller, however, would win in an action against Erin. B) Erin will win only if she can show that Randy had knowledge that cash was in the drawer before he sold it. C) Randy will win because when an auction is held without reserve, the auctioneer is entitled to repossess any item at will. D) Randy would win because Erin made an insufficient offer. E) Erin will win because the auction was without reserve, and she properly bid on and bought the cash register with everyone knowing that the cash drawer was stuck. Â Â