FIA 1363 - Introduction to Business Law Assignment

Assignment Task

Background

In the bustling city of Kuala Lumpur, two ambitious individuals, Amin and Farah, joined forces to create a unique business venture. Amin, a skilled artist renowned for his customized furniture, and Farah, an aspiring entrepreneur, aimed to collaborate on the production and sale of Amin's handcrafted wooden tables. Their partnership promised creativity, craftsmanship, and a fusion of art and commerce.

Scenario

a) Offer, Acceptance, and Intention: The Exclusive Table Sale

Amin completed a distinctive handcrafted wooden table named "Artisan Elegance." The table, an embodiment of Amin's artistic prowess, was set at a fixed price of RM2,000. Farah, in charge of marketing and sales, listed the table on various platforms. Zara, an art enthusiast, expressed her interest online, sending a message to Farah expressing her intent to purchase. However, before Farah responded, Amin sold the table to Amir, a walk-in customer who discovered the piece at a local art gallery. Zara argues that a contract existed between her and Farah. Analyze the issues related to offer, acceptance, intention, and any relevant cases. Provide advice to Farah.

b) Invitation to Treat and Capacity: The Art Gallery Display

Amin created another unique table, "Contemporary Craftsmanship," and displayed it at an art gallery with a price tag of RM3,500. Rahim, an interested buyer, observed the table and decided to buy it. However, before Rahim could make a formal offer, Nisa, another buyer, contacted Amin directly and offered RM4,000 for the table. Amin accepted Nisa's offer and sold the table to her. Rahim contends that there was an invitation to treat, and he had a legitimate expectation to buy the table. Explore the legal issues regarding invitation to treat, capacity, and any applicable cases. Provide advice to Rahim.

c) Revocation of Offer, Consideration, and Intention: The Commissioned Masterpiece

A local business owner, Ali, approached Amin to commission a custom wooden table for his office, agreeing to pay RM8,000. Before work commenced, Amin received a more lucrative offer from Selina, who was willing to pay RM10,000 for a similar table. Amin accepted Selina's offer and informed Ali that he could not fulfill the initial agreement. Ali, feeling aggrieved, claims there was a valid offer, acceptance, and intention. Examine the issues related to revocation of offer, consideration, and intention, citing relevant laws and cases. Provide advice to Ali.

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