[SOLVED] Commercial Law Assessment 2 Matlab

Assignment Brief

Yusof works as a car salesman at Luxury Car Dealers. On 2nd January Kenny saw an advertisement of Luxury Car Dealers and telephones Yusof and asked if he could trade in his Range Rover. Yusof says that he is happy to accept Kenny’s car but he would need to inspect the car before the sale is finalised. Kenny visits Yusof the next day and say ‘it is yours for $ 185,000. ’ Yusof examines the car and replies ‘I love it but $185,000 is too expensive for the Range Rover’ . Yusof says he will buy the car for $135,000. Kenny claims that his car is in a perfect condition and $135,000 is too low for his car. Yusof says he need to speak to his employer before he accepts to buy the car for $185,000.

Yusof’s employer agrees to buy the car for $185,000. On 4th January Yusof sent a text message to Kenny stating that he would buy the car for $185,000 and will assume this is acceptable unless Kenny tells him otherwise.

On 3rd January Kenny met his friend Aisyah and he made an offer to sell his car to her for $185,000. On 5th  January Kenny emailed Aisyah stating that he has found a buyer for his car. However, she replied stating that she agrees to buy Kenny’s car for $185,000.

Discuss, incorporating your understanding of contract law, the following:

a.  Whether a contract was formed. If so, when was it formed and who were the contracting parties?