Asked by Hassaan Haider on Jul 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 is not bound in contract with Brown because the prior contract he made with Jones became enforceable when Jones accepted his offer.
Enforceable
Capable of being executed or imposed as per law or agreement.
Verbal Offer
An offer made in spoken form rather than in writing, which may be binding depending on the context and jurisdiction.
- Acquire knowledge about the repercussions of contract breach and the corrective measures provided.
Verified Answer
DC
Dessy ChristinaJul 31, 2024
Final Answer :
False
Explanation :
Rahul is not bound in contract with Jones because there was no acceptance at the time of the offer, and Rahul had not agreed to keep the offer open, allowing him to enter into a contract with Brown instead.
Learning Objectives
- Acquire knowledge about the repercussions of contract breach and the corrective measures provided.