How contarct law is important for all business transctions

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Reference no: EM133294633

Question:- Contract law is very important for all business transactions, and one of the key issues is determining whether an offer has been accepted or not. Traditionally, where parties have agreed that acceptance of an offer can be concluded via post, the contract is deemed to be accepted at the point the letter is properly addressed, stamped, and posted" (Kelly et al., 2021:98).

David decides to sell his 4x4 truck. On Tuesday, he parks it on his drive with a notice on both front and back windscreens stating the following: 'For sale. Excellent condition. Price: £6,500 or near offer (ono). Call at number 38 Chestnut Avenue or telephone number 01447898766 only. The first person to agree the price will get the truck'.

1. At 4pm on Tuesday, David decides to accept William's offer and posts a letter to him at his business address stating that he agrees to sell on the stated terms. However, because of the lower price offered, he asked if William could pay in cash

Reference no: EM133294633

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