Reference no: EM13933991

The advert is printed in the October 2014 edition of the magazine which is released on 21^st of September.

Aaron also places a sign on the car windscreen reading "For Sale £4500". The car is parked outside Aaron's house.

At 7pm on the 22^nd September Beatrice telephones and says she will buy the car for the asking price of £4500 if she can borrow the money from her Aunt who is away on holiday until the 25^th September. Aaron promises to hold the car for her until 26^th September.

At 8pm on the 22^nd Christopher rings up and offers to buy the car for £4000 cash. Aaron says he will think about it, but it is getting late, he is tired and doesn't want to make a decision there and then. Christopher then says that if he hears no more from Aaron he will presume the car is his and collect it at 4pm on 25th.

At 9am on 23^rd September David (whose phone has been stolen the previous day) posts a letter to Aaron saying he will buy the car and enclosing a cheque for £4500. Unfortunately shortly after the letter is delivered (on 24^th at 7am) it is eaten by Aaron's dog, Barney and never seen by Aaron.

At 12pm on 24^th September Beatrice emails Aaron to say she has managed to arrange a bank loan so has the money to buy the car, and that she will collect it the following day at 4pm. Unfortunately Aaron's computer has crashed so he doesn't read the email.     

At 2pm on 25^thErin telephones and offers £4200 for the car. Aaron says that he cannot sell the car to her as another buyer has an option on it. Erin then offers £4600 and Aaron accepts. Erin agrees to make payment for and collect the car at 3:30pm.

Aaron immediately telephones Beatrice to tell her the car has been sold, but she is unable to answer her phone as she is driving to Aaron's house with the money. Aaron leaves a message on her phone revoking his offer.

At 2:30pm Fred is passing Aaron's house and sees the car. Excitedly Fred knocks on the door to enquire about it. Aaron tells him that it has already been sold. Fred tells him the car is "exactly what he has been looking for" and that he happens to have £5000 in cash which he will give to Aaron if he is allowed to drive the car away there and then. Aaron hesitates, but then takes the money. Fred drives the car away.

At 3:30pm Beatrice arrives at Aaron's house and is furious to find out that the car has been sold to someone else. The argument is overheard by David and Christopher who both arrive with the money to buy the car at 3:45pm. Erin then arrives and asks David and Christopher what is going on. They tell her about Aaron having already sold the car. Beatrice, Christopher, David and Erin all claim that they have a legally binding contract with Aaron, which he has breached. Coincidentally Erin has found a virtually identical car for sale, but at a price of £6000.

Advise Aaron as to his legal position with reference to the concept of agreement in contract law, you will need to ascertain whether in relation to each party there has been a firm offer and a corresponding acceptance.