Question

Sally owns a very expensive fur coat that Mary would like to buy. During the course of conversation, Mary asks how much Sally would take for the coat. Sally replies, "I am not sure I want to sell the coat, but I think it is worth about $5,000." Mary says, "That is a little more than I wanted to spend." Several days later, Mary calls Sally on the telephone and says, "I’ll bring over the $5,000 today." Sally refuses to sell the coat, and Mary sues. What results?a.Mary wins; a valid contract was created. b.Sally wins; there was never any offer for Mary to accept. c.Sally wins; when Mary said $3,000 was too much to pay, Mary rejected the offer. d.Sally wins; Mary did not accept the offer in a reasonable manner.

Answer 1

Answer:

b.Sally wins; there was never any offer for Mary to accept.

Explanation:

When Sally says that she thinks the coat is worth about $5,000 that was just a valuation in response to Mary's inquiry, and that doesn't constitute a valid legal-binding offer in any way. In fact, Sally explicitly says she is not sure she even wants to sell the coat. In order for an offer to be recognized there must be a clear intent to engage in a contract from both parties and that isn't the case since Sally never specified an asking price nor did Mary make a concrete offer at the moment. Therefore, Sally wins; there was never any offer for Mary to accept.