Cengage Advantage Books: Law for Business 18th Edition by John Ashcroft ,Janet Ashcroft

تمرين 12

Zalman Silber, an insurance agent for New York Life Insurance Co. (NY), had another business that the company prohibited its agents from undertaking. NY's senior vice president wrote Silber, "… you agreed … [to] resign as an agent of New York Life and that once your … business was sold you would apply for reinstatement. … I agreed that we would review your application for reinstatement … and so long as … your other outside business activities were acceptable to the Company, and there were no intervening compliance issues, we would reinstate your contract. … If you are in agreement … sign below and return a copy of this letter." Silber did not sign the letter, return, it or resign. NY then sent Silber a letter saying that since he had not responded and could not be reached, he was suspended, and that unless it heard from him by June 16, it would terminate his agency. Silber wrote there would be no point in "moving forward" unless one term were resolved and that they should discuss credit of his service time upon reinstatement, the sale of his prohibited business, and other matters. NY terminated him. He later applied for reinstatement, but NY denied his application. Silber sued, claiming he had an oral agreement confirmed by the letter from the senior vice president. Did he have a contract with NY?