University College London Law for Management Analysis Paper

Answer the following question:

The scenario and names used in this problem question are fictitious.

On Monday 10^th Ronald places two advertisements in a local Cycling Magazine. The first states “For sale: Great Britain Team Cycling Shorts, once worn by Chris Froome: Offers around £1,000”. The second states “For sale: VIP Tour de France e-tickets for 2022, £500. Will be sold to first person to contact seller.” Both advertisements have a contact address of 7 Hill Street, Sheffcaster.

Tom is interested in both items. The following day (11^th), he turns up at 7 Hill Street and offers Ronald £500 for the tickets. He states that he is also interested in the shorts but will write to Ronald the next day once he has had a chance to discuss the matter with his wife. Ronald says he will send the link for the e-tickets in due course.

The next day (12^th) Tom posts a letter to Ronald stating that he would like to offer £1,000 for the shorts. Ronald receives this letter on the 13^th. On the 13^th, Ronald sends a letter to Tom accepting his offer. Unfortunately, in his excitement Tom (who was on the bus at the time) has scribbled down his address unclearly and Ronald has mistaken a number 12 for a number 72. The letter does not arrive for another 5 days (18^th) when it is delivered by a neighbour.

In the meantime Tom, believing Ronald is no longer interested in selling him the shorts, buys a pair of green shorts once belonging to Mark Cavendish from his friend Malcolm. On the 19^th, Tom telephones Ronald stating that as he has now bought the green shorts he is no longer interested in the ones being sold by Ronald. Malcolm also had access to cheaper VIP tickets and tells Ronald he no longer wants the e-tickets from him.

Ronald is furious as he had received a better offer for both items, but being a man of her word, has refused this.

Advise Ronald as to his contractual position using relevant case law to illustrate your answer.