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something of value that causes the other to enter into an agreement. The value can be a promise to perform an act. There is no requirement that a contract is oral or written. The Statute of Frauds requires that certain types of contracts are in writing.According to the scenario about Tim and Laura, I feel that Stan Salesman is a slick character. He was money hungry because he took their money and knew he was not going to give them
Angela RobertsDid Jim and Laura Buy a Car?4their deposit back. The fact that they could not afford the payment should have been enough for the salesman to consider other options for lower payments. I think they were led to believe that they are entitled to refund because Sam Salesman said they would receive it back. I would suggest these steps for the couple:1. Don’t be in a rush to make a deposit. Always shop around.2. Get the contract in writing. This way there are no surprises when making a deal.3. Read the contract carefully for fine print before signing.4. Negotiate with the salesman. Let them know what you can and can’t afford. 5. Always use a credit card. You can always cancel a payment through the credit card company.6. Always contact a lawyer when in doubt. Consumers should also contact their local Better Business Bureau.In conclusion, I do think that they entered into a contract when he gave his $100 deposit but the fact that the salesman lied about returning his deposit is something that always happens.
Angela RobertsDid Jim and Laura Buy a Car?5References