The Church of Narnia vs. ABCD Company: Six months ago the CEO for ABCD Company sent a letter to the Bishop for the Church of Narnia pledging a...

The Church of Narnia vs. ABCD Company: Six months ago the CEO for ABCD Company sent a letter to the Bishop for the Church of Narnia pledging a $5,000,000.00 donation to the Church. Upon receipt of this news, the Bishop contacted ABCD’s CEO who re-assured the Bishop that the Church would be receiving a check for this amount within the ensuing four to six weeks. The Bishop, who for several years badly wanted to expand the Church in order to increase its congregation, immediately hired an architect and paid him $200,000.00 to design the new ambitious project. The Bishop was in love with the architect’s design, so he quickly hired a general contractor for $1,000,000.00 to start the building process. In addition to the $1,000,000.00 for the labor, the Bishop paid another 3,000,000.00 for the tools and materials needed for the project. On week five after receiving the letter and first speaking to ABCD’s CEO on the phone, the bishop called ABCD because he was nervous about the fact that he had not received the check and he had already incurred such significant expenses. Note that the only reason the Bishop engaged in this ambitious construction project was because of the extra money he was counting on getting from ABCD since the Church’s structure did not need it to continue its regular operations. The CEO at that point told the Bishop that soon after committing to donate the money, ABCD’s finances started going terribly wrong and as such at this point they were not able to make a donation to the church. The Bishop is now demanding that ABCD still true to its word and give the church the donation.

2- WXYZ Co. vs. ABCD Company: Several months ago, WXYZ Co. CEO met with ABCD’s CEO for lunch to discuss potential business ventures between both companies. After several glasses of wine WXYZ’s CEO offered to buy from ABCD a 20 acre parcel of waterfront land located in the Florida Keys. WXYZ’s purchase offer was for $50 million but ABCD’s reply was that it would sell the land only at $70 million. Since WXYZ had so much interest in this piece of land, its CEO told ABCD that he would have to meet with the rest of its board to make a decision but that he would pay ABCD $10,000 to keep the option to buy the land open for 30 days. ABCD’s CEO, agreed and wrote in a piece of paper (order your paper from ukcoursework.com for outstanding results) that in exchange for $10,000 ABCD was giving WXYZ the option to buy the land in question within 30 days at a $70 million price. WXYZ then gave ABCD’s CEO a $10,000 check which they promptly cashed. On day 20th, WXYZ met and it unanimously agreed to buy the land from ABCD at $70 million. That same day, its CEO sent ABCD’s CEO a fax confirming that they were accepting ABCD’s offer to buy the land. Upon receiving the fax, ABCD’s CEO called WXYZ to inform them that the offer was off the table and that the price for the land was now $90 million which WXYZ refused to pay. Two days later billionaire Richie Moneymaker offered to buy the land from ABCD for $100 million. WXYZ is now demanding that ABCD honor its word and sell them the land for the original offered price.