Francis, Inc., had the following activities during the curre…

Questions

Frаncis, Inc., hаd the fоllоwing аctivities during the current year: -Acquired 2,000 shares оf stock in Daly, Inc., for $26,000 -Sold an investment in bonds classified as available for sale for $35,000 when the carrying amount was $33,000 -Acquired a $50,000, 4-year certificate of deposit from a bank that was classified as held to maturity. (During the year, interest of $3,750 was paid to Francis.) -Collected dividends of $1,200 on stock investments in Byline Corporation In Francis's current-year statement of cash flows, net cash used in investing activities should be

Dаn is а lоcаl Radiо DJ. While live оn the air he stated, “The first person to bring me a pizza will receive my house . . . that’s right I am giving away my homestead in this very town, today, to the first person to bring me a pizza!” Peter was one of thousands of listeners and, since he worked close-by at a local pizza venue, immediately purchased a $10.00 pizza and headed to the studio. Peter received an employee discount; the pizza was actually worth $20.00. Dan had given away lots of prizes before in similar circumstances, including a few cars, but never anything as expensive as a house.  A couple minutes later Dan stated to his audience, “Well, sorry to anyone actually trying to bring me a pizza . . . you took too long, the deal is cancelled! Better luck next time! HAHAHAHA!” Dan’s home is worth about $500,000.00. It would have cost Peter $1,000.00 in moving expenses to change residences. About 5 minutes after that, Peter was the first to show up at the studio with a pizza but Dan refused to give Peter his home. Dan did, however, eat the pizza. In the matter of Peter v. Dan: (1) Did Dan’s communication operate as a valid offer? (2) Assuming that there was a valid offer, did Dan revoke it? (3) Assuming that Peter accepted the offer, was there valid consideration? (4) May Dan properly defend that this is an unenforceable oral contract? (5) Assuming that Dan breached a valid and enforceable contract, what damages may Peter seek from Dan?   [Do not discuss Specific Performance]