Reference no: EM131642451
On October 4th, you meet at a local restaurant whereupon Bob examines the toys, which are up to his standards. You offer to sell them to him for $750.00. Bob scoffs and offers $650.00. Although you are a bit frustrated with his counteroffer, you remember that you really need the money so you offer $725.00. Bob grumbles and increases his offer by a mere $10 to $660.00. He claims he will not pay a penny more. You lower your price to $720.00 and inform him that this is your best, final offer.
Bob states that he will not pay that price and departs the restaurant. Feeling defeated you collect your toys and go home. As you walk home, you wonder if you should have continued the negotiation and gone lower seeing that $700 is your goal price.
On October 13th, you get a call from Bob. It turns out that he combed the entire Internet and can't seem to find a set that is complete like the one you are offering. Sounding a little bashful, Bob offers to pay you $700.00 for the set. Just to toy with Bob a bit, you provide a price of $710.00. After hesitating for a few moment, Bob accepts.
You mutually agree that you will meet at noon on October 17th back at the restaurant that you met the previous week. You make a stipulation that you want payment to be in cash, particularly smaller bills.
Make a formal written contract