Answered

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Question:

In your own words, describe what makes a valid contract, how an offer is terminated, and the meaning of consideration.


Contract - Scenario:

Sal talks to Tina and offers to buy a desk from her for $75.00.

Questions:

What do you think will happen if Tina says, “No way, that’s too high.” What do you think this means in terms of the offer? Be specific.
What if, instead of #3 above, Sal inquires of Tina, “Would you take $60.00 for it?” What do you think has happened in this instance? Be specific.
What if Sal then says, “I’ll pay you $60.00 for it." What do you think this means? What do you think has happened now? Be specific.

Sagot :

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