Law school will give you the tools, but it is up to you, the individual, as to what kind of lawyer you will be.
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I'm just wondering if you all got his one yet:
Mary posts an ad in her local newspaper advertising her Corvette for sale and the asking price in the ad said 6000.00. Jane calls up Mary, doesn't even want to look at the car, and offers Mary 6000.00 for the Corvette and informs Mary that she will come later that night with 6000.00 and to pick up the car. Mary agrees, she is happy she sold the car on the first day, and got she was aking for.
Good Point Bombs. However, would Jane be bound to pay the 6K just because she "said so."
Yes. That is why we have contract law. A contract is not a piece of paper - it is a relationship between parties that defines their obligations towards one another. A contract may be formed through words (both written and oral), conduct, or in some cases, even silence (that is, silence may lead to an acceptance)...
You are correct - the offer is not the newspaper advertisement, but an invitation to open up bidding. In such a situation, the offer would be the tendering of the $6k, which Jane never did. And Mary would accept by actually taking the money. There are a number of issues besides this that may be stated.
Umm...no. You're dead wrong. A PROMISE to pay someone $6K for a car that has been thoroughly described is an OFFER (it's a promise, no? It's sufficiently definite, is it not?)...Jane need not 'tender' the money. The scenario describes a valid contract, formed when accepted by Mary over the phone. Sorry.
Ok, I know I'm not in law school yet, but this cannot be correct. Although I agree that a newspaper advertisement does not generally constitute an offer but is rather an invitation to bargain, that is not where this hypo ends. The offer is by Jane to buy the car for $6,000, which Mary happiliy accepts. Offer, acceptance, consideration. Done.
There may be other more subtle reasons that the contract was appropriately revoked, but I just can't buy the "newspaper advertisement does not constitute an offer".
Someone set me straight.