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  #1  
Old 11-05-2015, 06:16 PM
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MasterID MasterID is offline
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Default Story 1 and 2

Story 1
My friend told me he saw the pricing of a certain Silver bullion coin selling at $33.40. So he sent a buying offer message for 1x pieces.

The reply came back saying there is a price hike and it is now selling at $37.47.

Story 2
A certain seller was having an offer on bullion gold at $1,900. My (another) friend sent a message requesting what is the quantity to purchase to get $1,850 per piece.

Seller replied 20 pieces and my friend agreed to take 20 pieces for $1,850 per piece. Nothing heard for a while until a follow-up message. The reply is something like "not enough quantity left".


What is your opinion on the seller of Story 1 and Story 2?


.
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  #2  
Old 11-05-2015, 06:57 PM
moyyewhon moyyewhon is offline
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story 1.. dun buy

story 2.. buy as many as possible for 1850
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  #3  
Old 11-05-2015, 07:35 PM
GoldScaraB GoldScaraB is offline
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Story 1
If goods is advertise with indicated price, it should be honored unless terms & conditions are stated. Else it can be label as false advertising.
If the price is known by word of mouth & the price jack in the end, it's just a deal that didn't come to terms.
Perhaps the seller is not transparent in his dealing from what has been described, buyers please be on your toes.
My opinion is as a seller in story 1 is to stick to your price with a deadline should you want to indicate a sell price. The other side of the story is should the market price fall, would the seller tell the buyer, hey the price fell to $30 do u still want to buy this?

Last edited by GoldScaraB; 11-05-2015 at 07:41 PM.
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  #4  
Old 11-05-2015, 07:55 PM
GoldScaraB GoldScaraB is offline
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Story 2
Seller did not have the amount of goods to sell as indicated, another kind of false advertisement. Perhaps a big buyer is infront of the queue and bought all the goods, with little time to update no stock available.
My opinion is when seller deal enquiry with seller, the first thing is to update the buyer should you run out of goods already. By making an offer with no stock availability really reflects bad on the seller doesn't know how to run basic business deals. If I were the buyer, I would retaliate by asking not even one for sale at $1850?? You've gotta be kidding, what kind of business are you running?
The seller should just put or reply fix price if unable to stomach the discount.
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  #5  
Old 11-05-2015, 08:32 PM
Altima Altima is offline
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Most important question is, who is seller 1 and 2?

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Old 11-05-2015, 08:37 PM
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Slowdown Slowdown is offline
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Based on my limited one year study during Poly days on business law, the seller is not offering but an invitation to treat. Only the buyer can offer and the seller accepting the offer. That is why we have a purchase order from buyer and an order confirmation from the seller accepting the offer.

I might be wrong but all these year the word 'invitation to treat' have a lasting impression on me. We can argue that the seller may not be honouring his words but it may not constitute to be a breach of offer.



Quote:
Originally Posted by GoldScaraB View Post
Story 1
If goods is advertise with indicated price, it should be honored unless terms & conditions are stated. Else it can be label as false advertising.
If the price is known by word of mouth & the price jack in the end, it's just a deal that didn't come to terms.
Perhaps the seller is not transparent in his dealing from what has been described, buyers please be on your toes.
My opinion is as a seller in story 1 is to stick to your price with a deadline should you want to indicate a sell price. The other side of the story is should the market price fall, would the seller tell the buyer, hey the price fell to $30 do u still want to buy this?
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  #7  
Old 11-05-2015, 10:08 PM
GoldScaraB GoldScaraB is offline
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http://www.competitionbureau.gc.ca/e...eng/00522.html

Sale Above Advertised Price
Section 74.05 of the Competition Act is a civil provision. It prohibits the sale or rent of a product at a price higher than its advertised price. The provision does not apply if the advertised price was a mistake and the error was immediately corrected.


5.3 Rainchecks for Non-available Items
Offering and fulfilling rainchecks is another defence available to retailers should allegations be made that no reasonable supply of the special was made available.
However, it should be emphasized that this defence will only apply in a case of bona fide non-availability and not where there is a systematic practice of advertising at bargain prices with no genuine effort to supply in reasonable quantities during the currency of the sale.

Blah blah blah...in US, applicable worldwide hmm I wonder
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  #8  
Old 11-05-2015, 10:17 PM
GoldScaraB GoldScaraB is offline
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Story
a narrative, either true or fictitious, in prose or verse, designed to interest, amuse, or instruct the hearer or reader; tale.

MasterID spinning 2 stories, I hope it's not fairy tales LOL
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  #9  
Old 11-05-2015, 11:02 PM
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Slowdown Slowdown is offline
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http://www.lawteacher.net/free-law-e...-law-essay.php

Did a quick search on the law in Singapore. The above article uses few cases to illustrate what is an offer and what is an invitation to treat. The key is whether the wording of the seller that give the impression that it is an offer and not a invitation to treat. Bottomline is that we will never know if the transaction is valid unless the case is brought to a judge.

For the common man we must hold to the point 'buyer beware'.

I am not saying that in both cases the seller is accountable. I simply want to highlight that we consumer may not have absolute rights. We cannot assume we are right all the time. Sometime it may be unfair but the law protects the seller as much as the buyer.
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  #10  
Old 12-05-2015, 07:57 AM
GoldScaraB GoldScaraB is offline
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Similar to story 1

Based on the facts of the Mrs. Tan case, it would seem that the owner of the dog already made a valid offer to the world at large when they place a newspaper advertisement offering a reward to find and return the losing dog. Much is the same as the facts of Carlill v Carbolic Smoke Ball Co. case, showed that Mrs. Tan by finding the lost dog has accepted the reward offer when she found the lost dog and return it to the owner, so that the owner must pay the reward for her. Mrs. Tan is advised to bring legal action against the owner in order to claim her reward.

Similar to story 2

for example, in Felthouse v Bindley case in 1862, Felthouse offered by letter to buy his nephew’s horse for $30, saying that “If I hear no more about him, I shall consider the horse mind for $30.” The nephew did not reply, and the horse was sold. The court held that the uncle had no claim as the horse had not been sold to him, his offer $30 not having been accepted. Therefore, the offeror cannot impose acceptance merely because the offeree does not reject the offer (UWO Faculty of Law, 2003). If in case the uncle offer $30 and his nephew accepted the offer, then he can claim the horse.
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