eBay is one of the biggest online auctioning companies in the world. Buyers and sellers of all types are able to hop online, put up something for sale, and sell it! Basically, the way it works is that you find something you want to bid on, place a bid on it, and wait to see if your bid wins. If it does, you send your information to the seller, and in return, he or she sends you your goods. Is an eBay auction a legally-binding contract? In a minimum of 500 words, consider whether a bid placed in an online auction on eBay is legally binding and, therefore, enforceable. Explain your reasoning using the elements of contract analysis that you have learned thus far, including valid offer, valid acceptance, and the various forms of consideration.

In contract analysis, there must be a valid offer and a valid acceptance before such business can be considered as existing.

Explanation:

The scenario put forward show that e-bay is a middle man with the sole responsibility of connecting the buyer with the seller through any legally acceptable means whatsoever. Therefore a contract analysis reveals that the middleman is a witness to both party proposing to offer and accept from both ends. Ebay is sole an electronic commerce platform breaching the barriers to a smooth business relation.

In another instance, ebay is also a semi-legal contract initiator by means of its forms that is filed and documented by both parties. Therefore, The moment the seller puts up the product or services to be offered for bidding, a deed of offer is signed as a proof, while the same applies to the buyer or bidder who signs a deed of acknowledgement and willing to accept the good.

in summary thereoff, there must be a valid offer and a valid acceptance before any business relationship or understanding can be considered as existing.