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Running head: Did Jim and Laura Buy a Car1Did Jim and Laura Buy a CarToni PetersonProfessor: Marie SmithBusiness Law 100November 18, 2015
2A contract is an agreement that creates obligations that are enforceable by the law. A contract can either be written or spoken. (Elliot, C. 2015). There are elements to a contract that make it valid and binding and they are:Offer. This is defined as a clear manifestation of willingness to enter an agreement made by another person with the full understanding that their assent to the bargain is and invitation and is concluded. (DiMatteo, L.A. 2013). As to whether there was an offer in this case, yes there was an offer when the salesman offered the buyers time for a test drive and they chose and agreed to buy the blue car it was an offer than.Acceptance. This is basically means that the terms of the offer have been clearly understood and agreed to through consent and assent, and at no time will the term be changed. (DiMatteo, L.A. 2013). When the buyers agreed to the terms of sales and even agreed to pay a deposit, it clearly shows that they have accepted the seller’s offer.