Did Jim and Laura Buy a Car

Week 6 Assignment 1

Matthew Ader

Professor Lori Baggot

LEG 100

Feb 14 2016

A contract is an agreement that creates an obligation that is enforceable by the law. The law has clear guidelines that before there exists a contract that will be binding, there has to be an offer, acceptance, mutual obligation and all parties should be of sound mind and by law be of legal age. A contract can either be written or spoken. Assuming that the buyers were at the required age went to the car dealership looking to purchase a new car.
Stan the salesman made an offer to Jim and Laura and they both agreed to the terms. They asked that Stan the salesman hold the car for a day. He told them to put down $100 dollars to hold the car and that it would go to the final purchase of the car or that it would be refundable. Jim and Laura just wanted to hold the car so that it would still be there the next day. With mutual understanding Stan the salesman keeps the car and calls the next day to confirm when the purchase would be completed. I do believe that Jim and Laura did not enter into a legal contract that is binding. There are several factors that do not exist that would show a legally binding agreement. Like a contract that both parties would sign, agreeing to the purchase of the car. Having a contract in writing that both parties signed could show the sale of the car. Stan the salesman let Jim and Laura have a chance to test drive several cars that they were interested in Jim and Laura found the car that they wanted and that would suit their needs so Stan made an offer. I assume that that Jim and Laura wanted to think about the offer so they gave Stan some money to hold the car but on the way home they decided that it was too much money so they rejected the offer. The only thing that was in agreement that day was for Stan to hold that car. By Stan