Business Law and Ethics The Overview of Cases Essay

Business Law and Ethics The Overview of Cases - Essay Example Knutsen formed an oral contract with Signoff wherein Knutsen sold Signoff 30 head of cattle for slaughter. Signoff sent Knutsen a check for $9,373 â€Å"in full payment †¦ cattle, 30 head†¦Ã¢â‚¬  Knutsen claimed he was promised 34 cents per pound which would have earned $10,725. Signoff countered that he promised to pay based on â€Å"grade and yield,† a common industry practice. Knutsen cashed the check and then sued Signoff for the difference in price. Could Knutsen collect? In simple words, getting the check cashed means accepting the offer and the consideration that was made. If there were serious issues with the payment in this case, the check should not have been cashed ( Cross & Miller, 2011). Moreover, Signoff had promised to pay as per grade and yield, which in itself is somewhat an unclear term and does not specify the exact value to be paid to the seller. The seller is in a weaker position and cannot sue Signoff because for first, the check that was received in full payment was received and accepted hence cashed, and no specific amount had been promised as claimed by the seller. Only if the contract was clearer and precise mentioning the exact amount or if he had not collected and cashed the check (refusing acceptance) and if Signoff had not laid the condition of payment by grade and yield, would have Knutsen been able to sue him for difference in price. The case above shows that Knutsen is not in a position to sue Signoff. 3. Dr. Smith, the Cha irman of the Department of Pediatrics at a medical school, negotiated with Dr. Jones to hire Dr. Jones as a professor at a specified salary. Jones accepted the offer, put his house up for sale, and resigned from his current job. A few days later, Dr. Smith sent a letter to Dr. Jones, withdrawing the offer on the basis that some faculty member opposed his appointment and that any job offer had to be approved by the Dean of the Medical School; that is, Dr. Smith did not have the authority to hire Dr. Jones. Dr.