REVISION QUESTIONS
You are required to prepare brief answers to these questions.
Question 1
Jack advertised his car for sale for RM30,000 in a local newspaper on 1.2.2011. Tom saw the advertisement and went to Jack’s house to give him a cheque for the sum of RM25,000 on 3.2.2011. Jack refused to accept the cheque and Tom stated that he would sue Jack for breach of contract. The next day, 4.2.2011, Kevin inspected the car and later wrote to Jack enclosing a cheque for RM30,000 and saying that he would assume the car was his if he did not hear anything from Jack within 3 days. On 5.2.2011, Eric came with RM28,000 in cash to tell Jack that he wanted to buy the car. Jack accepted the money from Eric and allowed Eric to drive away the car. Please advise Jack on his liability in the above situation.

Question 2
International Financial Investment Sdn Bhd (IFI) started a scheme under which selected members of its staff were sent to work one day a week with local businesses in order to give advice and assistance in improving their financial management. Under this scheme, Wanda, an employee of IFI, was seconded to work for Fancy Foods Sdn Bhd, an online catering business.
In March 2012 Vincent, a delivery driver working for Fancy Foods Sdn Bhd, told Wanda that he had been left a large sum of money under the will of his aunt and asked if she had any advice. Wanda suggested that he invest the money in a newly launched fund, the Money Markets Fund. Most financial journalists at the time were not recommending this fund, although a few took a different view. Vincent took Wanda’s advice. Unfortunately Vincent had a serious fall at home in April 2012 and is unable to work. He has to sell his bonds in the Money Markets Fund but its value has fallen by two-thirds.
Advise Vincent as to any claims he may have.

Question 3
Buttercup, Blossoms and Bubbles formed an academy to