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Does jackson have a contract with clark

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Reference no: EM132746213

Question: Jackson has a rare coin that he believes to be worth $50. Wanting to sell it quickly, he orally offers to sell the coin to Clark for $40 Clark orally agrees, Before Jackson gives the coin to Clark, he finds out that the coin is actually worth $150. Does Jackson have a contract with Clark?

1 No, bc they did not get anything in writing

2 no bc there is no valid consideration

3 yes, but under these circumstances, Jackson can cancel the contract

4Yes, bc these is a valid agreement and consideration

Reference no: EM132746213

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