Question

Jane Linden is negotiating with James Paul to buy his 2012 Mini-Cooper. The following excerpts from letters have occurred so far: Jane: "I would be interested in purchasing your Mini-Cooper." James: "I am thinking of selling my Mini-Cooper." Jane: "I am considering selling my diamond tennis bracelet to buy your Mini-Cooper." Which of the following statements is true? a. James and Jane do not have a contract to sell the Mini-Cooper. b. James and Jane have a contract to sell the Mini-Cooper.

Answer 1

Out of the given statements, the true statement is Jane and James do not have a contract to sell the Mini-Cooper.

Explanation:

• The colloquy that is described taking place between Jane and James sounds like being in the most primary stage of the probable deal.
• Only after James and Jane reach the common ground of agreeing to pay for and sell the 2012 Mini Cooper, they would proceed to enter a legal contract.
• The contract would bind both the involved parties to pay the predetermined amount and sell the object of the deal.