Cengage Advantage Books: Fundamentals of Business Law 9th Edition by Roger LeRoy Miller

Exercise 22

Video Question To watch this chapter's video, Jack's Restaurant, Scene 2, go to www.cengagebrain.com. Register the access code that came with your new book or log in to your account. Select the link for the "Business Law Digital Video Library Online Access" or "Business Law CourseMate." Click on "Complete Video List," view Video 77, and then answer the following questions:
1 In regard to the sale of Jack's Restaurant, Jack (the seller) says that he is going to retain the rights to the restaurant's frozen food line. The buyers, however, thought that their sales agreement included the rights to all of the restaurant's signature dishes-whether fresh or frozen. Did the parties have an "agreement to agree" on the terms of the sale of the restaurant? Why or why not?
2 Suppose that Jack previously offered to sell the restaurant to these particular buyers and they had all agreed on the price and date for delivery. Would such an offer meet the definiteness requirement, even if no terms pertained to the frozen food line? Explain.