Topic: Contract Laws

Alexandre attended an auction sale of the property of a bankrupt restaurant. Among the items for auction was a stainless steel food preparation table. The auctioneer commenced by asking for bids: "Do i hear seven hundred dollars?" Alexandre raised his hand and the auctioneer cried "SOLD" Is this a binding contract?

Key terms: intention to bound, consenses ad idem, offer, acceptance, click wrap agreement, lapse, revocation, option