Jackson has a rare coin that he believes to be worth $50. wanting to sell it quickly
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Question:
Jackson has a rare coin that he believes to be worth $50. wanting to sell it quickly he orally offers to sell the coin to Clark for $40 . Clark agrees. Before Jackson gives the coin to clark, he finds out that the coin is actually work $150. Does Jackson have a contract with Clark?
a. No because they did not get anything in writing.
b. No because there is no valid consideration.
c. Yes but under these circumstances, jackson can cancel the contract.
d. Yes because there is valid agreement and consideration
Related Book For
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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