Offer. Ball writes to Sullivan and inquires how much Sullivan is asking for a specific forty-acre tract of land Sullivan owns. Ball then receives a letter from Sullivan stating, "I will not take less than $60,000 for the forty-acre tract as specified." Ball immediately sends Sullivan a fax stating, "I accept your offer for $60,000 for the forty-acre tract as specified." Discuss whether Ball can hold Sullivan to a contract for sale of the land.

Question

22-09-2020
Business

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Offer. Ball writes to Sullivan and inquires how much Sullivan is asking for a specific forty-acre tract of land Sullivan owns. Ball then receives a letter from Sullivan stating, "I will not take less than $60,000 for the forty-acre tract as specified." Ball immediately sends Sullivan a fax stating, "I accept your offer for $60,000 for the forty-acre tract as specified." Discuss whether Ball can hold Sullivan to a contract for sale of the land.

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So what is it Answer

anthougo anthougo · Answer 1 · 2020-09-23T03:09:48+02:00

Answer:

Ball can certainly hold Sullivan to a contract for sale of the land. Sullivan in his reply to Ball's enquiry offered to sell the forty-acre tract of land at $60,000 and nothing less. Ball accepted this offer by Sullivan by stating his acceptance.

These exchanges of offer and acceptance meet the terms of a valid contract. Therefore, Ball can always hold Sullivan for contract enforcement.

Explanation:

In making a valid contract, offer and acceptance are key ingredients, with specific consideration. Since the two parties, Ball and Sullivan are agreed on the consideration and have exchanged offer and acceptance, the validity of the contract is enhanced thereupon.