Inhae wants to sell her expensive exercise bike. She messages her good friend Olivia to see if

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Question:

Inhae wants to sell her expensive exercise bike. She messages her good friend Olivia to see if Olivia is interested in buying the bike for $1,000. Olivia says, 'I accept your offer but I can only afford $900. I'll buy it for that price'. Inhae responds, 'OK, I'll bring it over to your place this afternoon'.

On the way to Olivia's house with the bike, Inhae bumps into another good friend, Edgar. He knows that Inhae is interested in selling the bike and tells her that he would love to have it. He offers her $1,250 for it. Inhae is excited to get the extra money and immediately agrees. She messages Olivia to tell her that she has decided to sell the bike to Edgar for the higher price. Olivia is upset and says, 'but we had a contract!'

Required:

* Is Olivia correct - is there a contract between Inhae and Olivia? Is Inhae free to sell the exercise bicycle to Edgar? Provide legal authority for your reasoned answer.

* Provide peer-viewed references to your findings with links included in APA 7 format.

Marking criteria:

Your work is of high to exceptionally high quality showing excellence in, or advanced knowledge and understanding of, the subject matter; appreciation of, and analysis, synthesis, and evaluation of the issues presented by the assessment task; you have developed well-formulated arguments based on strong and sustainable evidence and/or supporting authority; there is evidence of a high level of creative ability, originality, and critical thinking and you have demonstrated excellent communication and presentation skills; there is full identification and accurate referencing of relevant primary and secondary sources. Clarity, insight and 'added value' will be evident in your work.