Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Marvin offers to sell his old computer to Harold for $800.00. Harold really wants to buy the computer, but he doesnt know if he can

Marvin offers to sell his old computer to Harold for $800.00. Harold really wants to buy the computer, but he doesnt know if he can come up with the money.

Harold asks Marvin IF Marvin would give Harold 3 days to think about the offer and try to gather the money??

Marvin agrees, so long as Harold pays Marvin $100.00 to keep the offer open for 3 days.

Harold gives Marvin $100.00 to keep the offer open for 3 days.

Marvin keeps the offer open for 3 days.

What type of contract is this called, if any?

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

Personal Finance

Authors: Vickie L Bajtelsmit

2nd Edition

111959247X, 9781119592471

More Books

Students also viewed these Finance questions

Question

What is Larmors formula? Explain with a suitable example.

Answered: 1 week ago