Question

miranda airways (miranda), a commercial air carrier, has a contract with wurtherton, inc. (wurtherton), an airplane manufacturer, to purchase a new plane. due to a sudden shortage of cash, miranda goes to first global bank (first global). first global issues a document to wurtherton which indicates that if miranda does not pay for the transaction, first global will. wurtherton considers the offer and then sends an acceptance with additional terms. the additional terms stipulate that miranda can use the new airplane for a period of ten (10) years and then return it to wurtherton. miranda airways agrees to the acceptance, and wurtherton delivers the new airplane to them. what is the nature of the contract between miranda and wurtherton?

Answer 1

The contract between Miranda Airways and Wurtherton, Inc. is a bilateral contract, where both parties have agreed to the terms.

Step-by-step explanation:

The nature of the contract between Miranda Airways and Wurtherton, Inc. is a bilateral contract, which is formed when both parties exchange promises and have a mutual agreement on the terms.

In this case, Miranda Airways made an offer to purchase a plane from Wurtherton, and First Global Bank issued a document to Wurtherton to guarantee the payment if Miranda fails to pay. Wurtherton accepted the offer, but with additional terms allowing Miranda to use the plane for 10 years before returning it. Miranda agreed to the acceptance, and Wurtherton delivered the plane.

Therefore, the contract is a legally binding agreement between Miranda Airways and Wurtherton, with both parties having obligations and rights under the terms of the contract.