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22 August, 12:43

Two individuals, Lap and Top negotiate for Lap to buy Top's computer. The following exchange takes place:

Lap: "I'll buy your computer for $275.00."

Top: "That sounds good."

Lap: "Great, the USB (flash drive) is included.

Which following statement is true?

a. Lap and Top have a contract for the computer at $275.00, but without the USB.

b. Lap and Top do not have a contract for the computer at $275.00.

c. Lap and Top have a contract for the computer at $275.00, including the USB.

d. Lap and Top have no contract because of the added USB drive.

e. None of the above.

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Answers (1)
  1. 22 August, 12:45
    0
    d. Lap and Top have no contract because of the added USB drive.

    Explanation:

    For a contract to be binding it must:

    Have a legal purpose. Both parties must have a mutual agreement. In our case, it was not stated if Top agreed to selling his computer with the USB included. Each party must agree to give up something of value in exchange for another something of value. While Lap and Top have agreed to exchange Top's Computer for Lap's $275. Top has not really agreed to part with his USB.
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Home » Business » Two individuals, Lap and Top negotiate for Lap to buy Top's computer. The following exchange takes place: Lap: "I'll buy your computer for $275.00." Top: "That sounds good." Lap: "Great, the USB (flash drive) is included.
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