On October 1, 2007, the Family Inc. The largest catering and wedding banquet company in the country, faxed a "request form" to various suppliers of banquet tables requesting offers for the sale of 500 round banquet tables for one of its wedding facility chains. The form was on the family Inc. restaurants letterhead and signed by Sophia Lotto, family inc chief acquisition officer. The QRF specified that the offer must be held open for 100 days, until December 10, 2007 and that the price term must be no higher than $60 per table. On October 8, Joe, the president of "Tables for All Events, Inc." Telephone Sophia to advise that he would sell family Inc. 500 round banquet tables at $50 per table and agreed to hold the offer open for 100 days. Sophia thank Joe for the offer and told him she would place the order before the hundred days ended. On December 1, Joe re-faxed a letter to the family ink restaurant stating that demand for round banquet tables were greater than he had anticipated and that his offer was terminated. On December 2, Sophia called Joe and told him that family inc. was treating Tables for All Events Inc. offer as still being open and was accepting the offer on its terms.
Since Joe is a merchant he thinks the UCC protects him in this case. What are Joe is liabilities and obligations with regard to the sale of the 500 round banquet tables to family Inc.?© BrainMass Inc. brainmass.com March 22, 2019, 2:58 am ad1c9bdddf
The QRF has specified that the offer must be held open for 100 days until December 10, 2007. This was a request for an offer. When Joe phoned Sophia and advised her that he would sell family 500 banquet tables at $50 per table, he was making an offer. When making the offer Joe agreed that he would hold the offer open for 100 days. The agreement between Sophia and Joe was for holding the offer open for 100 days. When Joe re-faxed a letter to the family link restaurant that the demand for round tables was high and he was terminating the offer, he was actually revoking his offer. ...
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