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Seminar 2:
FORMATION OF CONTRACT I
Question 1
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(b)
Lily is interested in earning the reward for finding Julius (advertisement 1). What
should she do?
Question 2
Lim Trading, the sole agent of the Albatross brand of golf clubs, sent a fax on 1 January
to Clubs R Us, a leading golf megastore, offering to sell 100 of the latest Albatross clubs
to them at $80 per club, cash on delivery. Later that day, Clubs R Us replied by fax as
follows: We accept your offer based on a 30-day credit period. Please also advise us on
the delivery date on an urgent basis. On 4 January, Clubs R Us decided to purchase
another brand of golf clubs from another supplier instead. They then sent a letter on 5
January to Lim Trading stating that they were no longer interested in buying the
Albatross clubs. Lim Trading only received this letter on 7 January. However, Lim
Trading had actually sent out a letter on 6 January advising Clubs R Us that the
Albatross clubs would be delivered to them on 15 January. This letter reached Clubs R
Us on 8 January.
Required
Based on the above facts, discuss whether there is a binding contract between the parties,
clearly stating your reasons.