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First Principles of Business Law |
| Making a contract |
| 4. The third essential element of formation: Sufficient agreement |
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4.5. Readiness to contract |
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Read the facts and the question and then choose the best answer. A says to B: "I'll sell all the dresses on this rack to anyone who offers to buy them for $20 each." B says to A: "I'll take the lot at that price." Have A and B reached sufficient agreement for there to be a contract? |
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(a) Yes, both A and B seem ready to contract on the stated terms.
(b) No, there has not been enough negotiation for A and B to be ready to be legally bound. |
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