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Contracts Scenario
On June 15, Peters orally offered to sell a used lawn mower to Mason for $125. Peters specified that Mason had until June 20 to accept the offer. On June 16, Peters received an offer to purchase the lawn mowe for $150 from Bronson, Mason's neighbor. Peters accepted Bronson's offer. On June 17, Mason saw Bronson using the lawn mower and was told the mower had been sold to Bronson. Mason immediately wrote to Peters to accept the June 15 offer. Has Peter's offer been revoked? Is Mason's acceptance ineffective?
According to the definition of a legally valid contract,...
This was performed when Peters offered to sell the mower for a particular price. However, the second step is the other party's acceptance of the deal. In this case, Mason did not initially accept the offer. But Bronson did. Thus, a contract had been formed between Peters and Mason.
The last step of a contract is always a performance, where each side must perform their agreed-on part of the bargain. In this case, Peters and Bronson had the valid verbal…
Works Cited
"Contracts." (2004) Retrived at November 23, 2004 at http://law.freeadvice.com/general_practice/contract_law/offer_contract.htm
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