Asked by Charley Stinespring on Jun 29, 2024
Verified
Rahul met Jones at a street corner and made a verbal offer to buy his canoe for $200. Jones replied that he would "think about it." Rahul nodded affirmatively. The two then went about their separate business. Later in the day, Rahul met Brown, who also had a canoe for sale, and Rahul offered to purchase Brown's canoe for $175. Brown agreed to sell Rahul his canoe. At 4 p.m. the same afternoon, after Rahul and Brown had made their arrangement, Jones telephoned Rahul to say he would accept Rahul's offer to buy his canoe. Rahul's offer was merely an invitation to do business.
Invitation to Do Business
An expression of interest or a solicitation that is not legally binding, essentially a preparatory step to entering negotiations.
- Assess the legal validity of agreements stemming from familial and social contexts.
Verified Answer
AS
Anthony SanchezJun 29, 2024
Final Answer :
False
Explanation :
Rahul's offer to Jones was a valid offer, not merely an invitation to do business, and it could be accepted by Jones until Rahul revoked it or it lapsed.
Learning Objectives
- Assess the legal validity of agreements stemming from familial and social contexts.