First Principles of Business Law
Quiz: Making a contract 

Question 1

 

 

 

A says: “I hear that you want to sell your car for $5000. I’m looking for a good used car to buy.”   B replies: “Good!  It’s a deal.  You can pay me and pick it up anytime tomorrow.”  On these facts, which one of the following answers is the most accurate? 

 

(a)  The facts show that A and B have finished negotiating but have not yet bound themselves to a contract.

(b)  The facts show that A and B are still negotiating and are not yet ready to enter into a contract.

(c) The facts show that there has been an ‘offer’ and an ‘acceptance’ and that A and B have therefore entered into a contract to buy and sell the car.

 

 

 

 

 

 

  

 

Go to the next question Quit the quiz Choose another module