Discussion: Module 4 Questions
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4.4 – Discussion: Module 4 Questions
Following the instructions in Module 1, select and post your responses to at least two (2) of the following assigned module discussion questions options in the corresponding Discussion Board Forum. Choose from:
4-1 Jennings text, p. 386, Consider
“December 30, 1977: John Hancock Insurance Company sent a commitment letter to Houston Dairy offering to loan Houston $800,000 at 9.25 percent interest; the letter provided that acceptance must be in writing within seven days and must be accompanied by a $16,000 letter of credit or cashierâs check.
January 17, 1978: The president of Houston Dairy sent a letter of acceptance to Hancock along with a cashierâs check.
January 23, 1978: Hancock cashed the check, which went through standard company processing.
Hancock claims there is no contract because the acceptance occurred after the offer had expired. Houston Dairy maintains that its letter of acceptance was a new offer that was accepted by Hancock with the cashing of the check.
Who is correct? Is there a contract?”
4-3 Jennings text, p. 396, Consider (top of page)
Was the failure to make the payment a failure of consideration?
Has Hasbro lost its rights?
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