Question
Zach, discussed selling his men's clothing store, Zach's Pants, to Lucy.After a 40 minute discussion over the first draft of their contract, Zach signed a
Zach, discussed selling his men's clothing store, Zach's Pants, to Lucy.After a 40
minute discussion over the first draft of their contract, Zach signed a second draft
stating "I hereby agree to sell my business, Zach's Pants, to Lucy for $300,000."Lucy
agreed to purchase the business on these terms.Thereafter, Zach refused to transfer
his ownership of the business to Lucy and claimed that he made the contract for sale asa joke and never intended to actually sell his business to Lucy.Is there a valid contractbetween Zach and Lucy?If so why?If not, why not?
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The Legal Environment Of Business Text And Cases
Authors: Frank B. Cross, Roger LeRoy Miller
9th Edition
1285428943, 9781305142947, 1305142942, 978-1285428949
