Legal Question in Business Law in New York

On May 1, Brand Name Industries, Inc. (BNI), sent Carol a letter, via overnight delivery, offering to employ her to audit BNIís financial statements for the current year for $10,000. In the letter, BNI stated that Carol had ten days to accept. On May 5, Carol sent BNI a fax that stated, ďThe price for the audit seems too low. Would you consider paying $12,000?Ē BNI received the fax. The next day, Dan offered to conduct the audit for $8,000. On learning of Danís offer, Carol immediately e-mailed BNI, agreeing to do the work for $10,000. BNI received this e-mail on May 7. Explain why BNI and Carol do, or do not, have a contract.

Asked on 2/10/13, 9:16 am

2 Answers from Attorneys

Walter LeVine Walter D. LeVine, Esq.

No bar exam or law school questions permitted. Quick response - counter offer by Carol negated original offer and allowed BNI to accept another offer. Basic contract law - offer, acceptance and consideration required.

Read more
Answered on 2/10/13, 11:01 am
David Browde David A. Browde, P.C.

Yes, it's first year midterm time...

Read more
Answered on 2/10/13, 12:49 pm

Related Questions & Answers

More Business Law questions and answers in New York