June owned 50 shares of a stock that was actively traded on a national stock exchange. June wanted to sell the shares but felt that her profit would be seriously diminished by selling through a broker and paying the customary brokerage commission. June offered the 50 shares to any of a group of six people in a conversation at a party. The offered price was $80.50 per share, the price at which the shares had closed that day. No one really responded to the offer at that time. Ten days later when the shares were trading at $72.25, May, one of the offerees at the party, appeared at June's office saying that she accepted the offer. June claimed the offer no longer was available. Evaluate the legal outcome of this dispute.

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Business

Amari Ballard

26 January, 07:46

June owned 50 shares of a stock that was actively traded on a national stock exchange. June wanted to sell the shares but felt that her profit would be seriously diminished by selling through a broker and paying the customary brokerage commission. June offered the 50 shares to any of a group of six people in a conversation at a party. The offered price was $80.50 per share, the price at which the shares had closed that day. No one really responded to the offer at that time. Ten days later when the shares were trading at $72.25, May, one of the offerees at the party, appeared at June's office saying that she accepted the offer. June claimed the offer no longer was available. Evaluate the legal outcome of this dispute.

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Stella Marsh · Answer 1

At the time of the offer, if a person does not accept the offer within a given period of time. The offer would be ended and the other person does not have the right to claim about the acceptance of the offer.

If the time period is not mentioned than the offer is expired after some time.

In the given case, since the offer was made to six people on one day when the offered price is $80.50 and on that day, the price is closed.

After ten days, the price of the share is $72.25. Due to reduce in the price of the share, May said that she accepted the offer. But in the given scenario, no one has given his/her consent about the acceptance.

So, June has the right to sell the shares of stock to any other investor before accepting her offer.