Generally do advertisements constitute offers if not

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Essentials of Business Law and the Legal Environment
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Chapter 10 / Exercise 02
Essentials of Business Law and the Legal Environment
Mann
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2. Generally, do advertisements constitute offers? If not an offer, how is the advertisement to be classified? If an advertisement is set forth for an auction without reserve, may a seller revoke an offer once a bid has been made? (Points : 6)
3. Fred states to Jim, “Jim, I will promise to sell you my car for $5000 this Friday if you promise to pay me this Friday”. Jim states, “I promise”. On Friday, Fred and Jim
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Essentials of Business Law and the Legal Environment
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Chapter 10 / Exercise 02
Essentials of Business Law and the Legal Environment
Mann
Expert Verified
meet and exchange the monies and the car. Is this contract bilateral or unilateral, executory or executed, and express or implied? Analyze.

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