Discussion Question: Is that job offer a contract?

When a student/graduate accepts a job offer there is a contract, or is there? There is an increasing problem with students accepting employment offers and then backing out at the last minute for reasons such as receiving a better offer, changing their mind, unforeseen circumstances, and/or finding out negative news regarding the company or employer.

1. Answer when there might be a contract.

2. List the stakeholders in a student's decision to renege on an offer and discuss the legal and ethical issues of reneging.