Jack just turned 18 and doesnt know what he wants to do for the rest of his life. So, he decides to relocate to Oahu, HI and spend a year finding himself. When Jack arrives in Waikiki, he goes to ABC Surf Shop (ABCSS) to purchase a surfboard.

As Jack is walking through ABCSS, a sales agent, Jill, shouts out to him and says, Well sell you that blue and white surfboard hanging on the wall for $599. Jack says, Let me take a look at it and Ill let you know. After looking at the surfboard, Jack brings the blue and white surfboard up to Jill and says, Im on a budget, so I cant give you $599, but will you take $550 cash? Jill replies, Sounds good, lets ring it up and get you out of here. Jack pays for the surfboard, collects the receipt, and leaves the store.

Issue:

Did Jack and Jill enter into a bilateral contract?

Rule:

A contract requires an offer, acceptance and consideration.

Analysis:

Conclusion: