Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Isadora, an 18-year-old coin collector, walks into Corbin's Collectibles Store. Isadora identifies what she believes to be a coin that she is missing from her

image text in transcribed
Isadora, an 18-year-old coin collector, walks into Corbin's Collectibles Store. Isadora identifies what she believes to be a coin that she is missing from her collection and asks Corbin how much he wants for, as Isadora put it, "that one-of-a-kind, rare coin." Corbin knows that the coin is actually a very nice, but far from unique, reproduction worth about 90 dollars. Seeking to capitalize on Isadora's misunderstanding, Corbin offers to sell the coin to Isadora for $400. Isadora happily buys the coin for $400. Has a legally enforceable agreement been made? No. Mutuality is not present. Yes. There has been an offer and an acceptance. No. Due to a lack of consideration, no legally enforceable agreement has been made. Yes. All elements of OACMCL are met. No. The price paid was well below quantum meruit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

To determine if a legally enforceable agreement has been made we need to consider the basic elements ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

ISE Project Management The Managerial Process

Authors: Erik W. Larson, Clifford F. Gray

8th Edition

1260570436, 978-1260570434

More Books

Students also viewed these General Management questions

Question

Are we investing in the right areas?

Answered: 1 week ago