Asked by Minmint Vanichvorasakul on Jul 26, 2024
Verified
Abby orally offers to sell Carl 100 premium-grade fountain pens but neglects to state the price.Such pens typically sell for $1 each.Carl orally accepts.Immediately thereafter,Abby tries to back out of the deal.At this point in time,which of the following is most likely to be true?
A) There is no offer and no contract because the offer is indefinite.
B) There is no offer and no contract because the offer must be in writing.
C) There is a contract if the parties intended to make a contract and there is a reasonably certain basis for giving an appropriate remedy.
D) There is a contract because the offer contained all material terms.
Premium-Grade
Describes products or materials of superior quality that exceed the standard specifications.
Indefinite
Lacking clear boundaries or limits; not precisely determined or established.
Material Terms
Essential elements or conditions of a contract that are fundamental to the agreement's performance.
- Acquire knowledge on the essential elements of forming a contract, which include offer, acceptance, and consideration.
- Understand how courts determine whether a proposal qualifies as an offer.
Verified Answer
LS
Laurencia StorrJul 28, 2024
Final Answer :
D
Explanation :
The most important requirement in determining whether a contract exists,the intent to contract,is present here even though the contract does not state the price terms.The court would consider this to be a valid contract.
Learning Objectives
- Acquire knowledge on the essential elements of forming a contract, which include offer, acceptance, and consideration.
- Understand how courts determine whether a proposal qualifies as an offer.