Question
Buyer is very familiar with and interested in buying car owned by Seller. Today, Seller offers to sell this particular car to Buyer for $450
Buyer is very familiar with and interested in buying car owned by Seller. Today, Seller offers to sell this particular car to Buyer for $450 to be paid by a check that Buyer will give to Seller when Buyer receives the car at Seller's house tomorrow at 5 pm. Buyer immediately accepts this offer. Assume that all essential terms were included in the offer.
QUESTION: What is the consideration, if any, that each party received (to support this contract)?
[Think this through carefully before you respond. It's essential that you provide precise information regarding just exactly what both parties received as consideration.]
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