2. Larry Fates, the owner of Goggle, a software company, emails his friend Steve Works as...

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2. Larry Fates, the owner of Goggle, a software company, emails his friend Steve Works as follows: "Hope all is well. I would like to purchase your building in Palo Alto, California for $5 million. Closing would have to happen no later than December 31 for tax reasons." Steve responds "That sounds great! In fact, I would require that we close no later than October 31, one month away, and insist on cash at closing". Larry does not respond to Steve's email and approaches Bill Fates, another friend, to buy his building in Palo Alto instead. When Steve hears about the deal with Bill, he is furious, insisting that he (Steve) and Larry had a deal. Did they? Why or why not? 2. Larry Fates, the owner of Goggle, a software company, emails his friend Steve Works as follows: "Hope all is well. I would like to purchase your building in Palo Alto, California for $5 million. Closing would have to happen no later than December 31 for tax reasons." Steve responds "That sounds great! In fact, I would require that we close no later than October 31, one month away, and insist on cash at closing". Larry does not respond to Steve's email and approaches Bill Fates, another friend, to buy his building in Palo Alto instead. When Steve hears about the deal with Bill, he is furious, insisting that he (Steve) and Larry had a deal. Did they? Why or why not?

Answer rating: 100% (QA)

In the scenario described Larry Fates expressed interest in purchasing Steve Works building for 5 mi... View the full answer