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no documentation during the payment of the deposit, it is not possible for the seller to enforce theinitial agreement. It may seem valid to claim that the deposit meant a commitment for purchase of the car but it is not legally binding making his claim to be void of backup just like that of the
DID JIM AND LAURA BUY A CAR?5buyers. In this case, neither of the parties, buyer and seller can apply this void state. It is notable that the depositing of an amount of $100.00 was mere committal that never held any capacities of a contract. There is a clear indication in the case that there were no documentations and that means that there was no description of property for purchase. A contract must have clear descriptions of property one considers to purchase and that goes for the seller too. There has to be a clear description of the property on sale, which lacks in this scenario (Blum, 2007). Since there was no signing of any documents in this case, the seller cannot force the buyers to finalize the purchase. This case does not even require rescission since there was no signing of any documents to use as a contract. The seller has no option but to refund the buyers their money since they already changed their minds regarding their continuation with the purchase. The law of contracts demands that a contract is enforceable or unenforceable. This lacks in the case since there was no binding elements (Blum, 2007). With the buyer telling the seller that they no longer wish to purchase the car, there is legal termination of the initial agreement. Since the buyers’ later decline the offer, the ensuing lack of mutual agreement means the offer is unacceptable and even if there were a contract, it would become void.ReferencesBlum, B. A. (2007). Contracts: Examples & explanations. Austin: Wolters Kluwer Law &Business.Burton, S. J. (2009). Elements of contract interpretation. Oxford: Oxford University Press.
DID JIM AND LAURA BUY A CAR?6Cross, F. B., Miller, R. L. R., & Cross, F. B. (2009). The legal environment of business: Text andcases : ethical, regulatory, global, and e-commerce issues. Mason, OH: South-WesternCengage Learning.