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FrozenT [24]
3 years ago
13

Julius asks Rachel if she would like to sell her boat. Rachel privately has no interest in selling her boat, and believes that J

ulius can’t afford her boat anyway. Rachel says, "I’d sell my boat to you for $20,000." To Rachel’s surprise, Julius responds "Ok, it’s a deal." Rachel does not want to sell the boat to Julius for any price. Julius and Rachel have:________
a. formed a valid contract, because Rachel’s outward expressions showed the formation of a contract.
b. formed a valid contract, because Julius expressed outward interest in the boat.
c. not formed a valid contract, because Rachel did not want to sell the boat for any price.
d. not formed a valid contract because of lack of definiteness in the contract terms.
Business
1 answer:
IRINA_888 [86]3 years ago
4 0

Answer:

Julius and Rachel have:

a. formed a valid contract, because Rachel’s outward expressions showed the formation of a contract.

Explanation:

A contract is a mutual agreement between two or more parties that is enforceable by law. A contract always creates a legal obligation between the parties that agreed to the contract. A contract can be written or spoken depending on the choice of the parties involved. A valid contract is a contract that is legally binding to the parties involved and thus the parties have a legal obligation to perform the contract duties as agreed. The following are some qualities of a valid contract;

1. There must be an offer, for example; Julius offered Rachel $20,000 for her boat.

2. Acceptance. The person being offered has to accept. In our case; Rachel expressed an acceptance of the offer by saying yes.

3. A promise to perform. since Rachel accepted the offer she expressed the desire to sell her bought to Julius thus a desire to perform.

4. Conditions of the contract. The terms of the contract should be stipulated to ensure that a contract breach is avoided.

The major qualities of a contract in general is that there has to be an offer and acceptance to that offer.

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Question Completion:

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