Tanya and Sally Case Study Business law Assessment Answer

Case Study 1  In January, Sally, a top fashion diamond jewelry designer who lives in London, met Harry, a rich diamond buyer, also from London, at a diamond exhibition in Paris. Over a lovely lunch, they discussed what they had seen at the exhibition and established a good friendship and agreed to stay in touch. Harry has a house in London and a house in Paris and spends several months of the year in each.

They start writing regularly to each other and in May, Harry writes to Sally saying that he really likes her ring designs, especially one with a blue diamond and would love to have it. Sally replies by mail and says that she's delighted that he likes it and can supply it to him but that another buyer is interested in it and she must have a reply from him confirming his interest within three (3) days. He replies the next day by post saying that he accepts her offer and will pay her $100,000. The letter is delayed and Sally ends up selling the ring to the other buyer.

With reference to relevant case law discuss whether:

there is a contract and, if so, who made the offer it would make any difference if Harry, worried about possible delays in the postal service, sent his reply by email instead. Case Study 2 Answer the following question with reference to any relevant statute and case law.

Tanya is a wealthy businesswoman with a high income and six children. Tanya has set up a company for the operation of the business so as to save on tax, but also to reduce her personal income tax that she has to pay on the salary that she takes out of the company. She also wants to preserve some money for her children in the future when they reach 21 years of age. She has heard something about trusts but it sounded complicated.

She comes to you for advice. She wants to be the trustee but does not know what her duties might be. Discuss what would be the most suitable trust for her and what kind of legal duties she could expect to have to comply with.