Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Jim offers to sell Wanda his car for $499. Wanda tells Jim that she would like to think it over. Jim tells her the offer

Jim offers to sell Wanda his car for $499. Wanda tells Jim that she would like to think it over. Jim tells her the offer will remain valid for 48 hours. Later that night Jim has an accident that destroys the car. The next day, Lesley, a mutual friend, calls Wanda and asks: Did you hear about Jim? He was in an accident las night. It's a miracle he is alive because his car was totaled. Later that afternoon, Wanda goes to the hospital to visit Jim and tells him that she is glad he's going to be okay and that she accepts his offer to contract. Is there still a valid contract?

A) There is no contract because prior to accepting the contract Wanda knew the car had been destroyed

B) No valid contract is formed because Wanda has not paid any portion of the purchase price to Jim.

C) A valid contract exists because Jim never revoked the offer.

D) There is no contract because the Statute of Frauds requires a written contract.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

Smith and Roberson Business Law

Authors: Richard A. Mann, Barry S. Roberts

15th Edition

1285141903, 1285141903, 9781285141909, 978-0538473637

More Books

Students also viewed these Law questions