Asked by
Schnyyder Louis
on Dec 20, 2024
Verified
June offers to sell her RV to Cecil for $13,000. Cecil says he will apply for a loan and will buy the RV within a week. A contract is formed:
A) when Cecil tells June he will buy the RV.
B) when Cecil gets the money from the credit union.
C) when Cecil applies for the loan at the credit union.
D) only when June gets the $13,000.
Contract Formed
refers to the creation of a legally binding agreement that arises when an offer by one party is accepted by another party, meeting the necessary legal requirements.
- Differentiate among express, implied, unilateral, and bilateral agreements by providing specific examples.
Verified Answer
KB
Learning Objectives
- Differentiate among express, implied, unilateral, and bilateral agreements by providing specific examples.
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