Question
The following related statements were exchanged between two individuals negotiating the sale of an automobile. Required: Label each as either an Offer, Rejection, Counter Offer,
The following related statements were exchanged between two individuals negotiating the sale of an automobile.
Required: Label each as either an Offer, Rejection, Counter Offer, or Acceptance.
- "I will buy your car for $1,500."
- "I will not sell the car for $1,500, but I will sell it to you for $1,800."
- "I will buy your car for no more than $1,700."
- " O.K., I agree to sell it to you for $1,700."
- Was a valid contract formed by any of the above statements?
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Financial Accounting and Reporting
Authors: Barry Elliott, Jamie Elliott
17th edition
978-0273778172, 027377817X, 978-1292080505
