Scenario 1: Jack makes a call to Jill and says that he would buy 40 widgets for $300, but Jill counters the offer with $350 and Jack takes it
Issue: A determination of whether there is a contract between Jack and Jill
Analysis: Offer: For one to assume that the offer is valid it requires intent, particular or specific terms, and communication by the person offering. Acceptance: Jill offered $300 for 40 widgets but Jack presented the best deal at 40 widgets for $350 which Jill accepts. As such, one can conclude that there was an acceptance of the counter-offer. Consideration: The basis of this offer presents a subject matter with a ...