Did Jim and Laura Buy a Car Essay

845 Words Feb 16th, 2016 4 Pages
November 10, 2015

Contracts:
A contract is an agreement that creates obligations that are enforceable by the law. A contract can either be written or spoken. There are elements to a contract that make it valid and binding. This is defined as a clear manifestation of willingness to enter an agreement made by another person with full understanding that their assent to the bargain is an invitation and is concluded. As to whether there was an offer in this case, yes there is an offer. When the salesman offered the buyers time for a test drive and they finally chose and agreed to buy the blue car it was a clear offer.
Acceptance. This basically means that the terms of the offer have been clearly understood and agreed to through consent and
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As of whether the parties were of a sane mind, yes they were to allow them capacity to seek purchase of a new car and also agree to the terms and conditions of the sale.
Contract in place:
Whether there was a contract of purchase of a car? The law puts clear guidelines that before there exists a contract that is binding, there has to be an offer, acceptance, mutual obligation and all parties should be of a sound mind and have attained an age that is considered by law. In this case, a contract does exist. The buyers being of a required age approached a car dealer wanting to purchase a car. The dealer made an offer and the buyers accepted to the terms. They promised to buy the car and asked that the salesman held it for a day for they would come back for it.
They went ahead to confirm their verbal agreement by paying an amount that partly makes them show desire to purchase the automobile. In return, with mutual understanding the salesman keeps the car and calls them to confirm if the purchase would be completed. A contract that is legally binding does exist here. There are factors in this scenarios that show a legally binding agreement is in existence.
When Stan the salesman gave the buyers Jim and Laura a chance to test the cars that were lined for sale, he made an offer. Jim and Laura found a blue sedan car that best suited their needs. They went ahead to agree to buy the car and this was a clear show of…

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