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Stan to hold the vehicle. No documents were signed, and no receipt was given for proof that he would hold the vehicle, this was done all in good faith. A Unilateral Contract is a contract where one party makes a promise that the other party can accept, only by doing something. For this case that doing something is Stan the sales man holding the car for Jim and Laura. In conclusion, a contract is a legally enforceable promise. Meaning that it is a promise that the law will enforce. Analyzing whether a contract exists involves inquiring into these issues: offer (Stan offered Jim and Laura the vehicle knowing the price), acceptance (they
Did Jim and Laura buy a car 4accepted the offer by asking Stan to hold the vehicle), consideration, capacity (all parties are of a sound mind), legal purpose, consent, and sometimes, whether the deal is in writing. [ CITATION Jef13 \l 1033 ]Jim and Laura did not enter in to a contract with Stan the salesman in purchasing the vehicle. However they did enter in to a unilateral contract when they agreed to pay Stan the $100.00 to hold the vehicle. .
Did Jim and Laura buy a car 5ReferencesBeatty, J. (n.d.). Forming A Contract. In Introduction to Business Law (5th ed., pp. 175 - 189). Cangage Learning. Harroch, R. (2000). Business contracts kit for dummies. Foster City, CA: IDG Books Worldwide.