downloaded mgmt project

downloaded mgmt project - Mgmt 108 Project#1 Kimia...

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Mgmt. 108 Project #1 Kimia Ghalambor, Lian Kimia, Daniel Aeina, Kate Berger, Christa Cunningham 1. Richards initially contacts Flowers to inquire about the Lot, implied by the language “interested in.” Richards requests for a response to see “if” Flowers is “interested,” and Flowers’ response serves as an indicator of his interest in negotiating. As Flowers’ response is a part of preliminary negotiations, Flowers’ response is not an offer. Flowers does not show an intention to enter into a binding obligation with Richards since he did not clearly state that he will sell the Lot to Richards and could potentially sell to someone else at a price higher or lower than $400,000. Richards’ reply that he “[has] agreed to buy” does not constitute an offer either, since the terms are not sufficiently definite. No exact time of payment or delivery has been established, so it is not clear that the sale would happen reasonably soon. Flowers’ silence does not constitute acceptance. The requirement of a valid contract, agreement, is not met since there is neither an effective offer nor an acceptance. Therefore, the parties do not have a contract. 2.
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