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lined for sale, he made an offer. Jim and Laura found a blue sedan car that best suited their needs.They went ahead to agree to buy the car and this was a clear show of acceptance. This is a legal undertaking based on the fact that this is a car dealer and assumed to be registered. The two Mincey3
buyers were of a sound mind and were of a sound mind and required age given that they were in a position to make purchase of the automobile. Conclusion:The two buyers after a mutual understanding went ahead to pay $100 as prove of purchase or intent to purchase the automobile causing the salesman to keep the car for a day as agreed between them. This is consideration and is also a clear proving that they promise to buy the car the next day. The money was binding and it was made in order to promise that they intended to buy the car and to also prevent the salesman from selling it to any other interested buyer. When the two buyers failed to owner the agreement that they made and that was legally binding, this is in fact a breach of contract.ReferencesMincey4
1. Burnham, S. J. (2011). Contract Law for Dummies. (pg.169) Hoboken: John Wiley & Sons. 2. Samuelson, B. (2014). Forming a contract 5th ed. (pg.174) Intro to business law (Cengage Learning.3. DiMatteo, L. A. (2013). Commercial contract law: Transatlantic Mincey5