Answer to Question #251675 in Management for James

Question

On May 30, Cattle rancher James visited Mark, telling him, I know you're interested in buying the land I'm selling. Mark replied, Yes, I do want to buy that land, James told Mark he would determine the value of the property and send that information to Mark do that he would have notice of what James wanted for the land. On June 13, Mark called James to ask if he still planned to sell the land. James answered, Yes, and I should have the value of the land determined soon. On June 17, James sent a letter to Mark listing a price quotation of $250,000. Mark then responded to Oliver by letter on June 21 stating that he accepted James offer. However, on June 24 James wrote back to Mark saying There has never been a firm offer to sell, and there is no enforceable contract between us. Oliver maintains that a price quotation alone is not an offer. Mark claims a valid contract has been made. Who wins? Discuss

Answer must not be less than 300 words

Answer 1

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