Question

Andy went shopping and saw that there were games on sale in a computer center. Andy came to Patrick’s store, where there was a crowd. Andy took much effort to get into the store and found the “Hunter”. Andy quickly picked up two boxes of the “Hunter” from a table in which there was a poster stated “Summer Sale. Everything must go.” Andy however could not find any price tag on either of the boxes. Andy asked Patrick, the shop owner, for the price of the computer games. Busy chatting with other customers, Patrick turned his head, and said that “$2,500 each, so just $5,000.” Andy replied: “How about $3,000?” Patrick replied disinterestedly: “No way.” Andy then put down one box of the “Hunter”, and tendered the other box and $2,500 to Patrick. Patrick accepted the payment. It was at 3:00 pm.

From the contract law, advise Andy if there is any contract between him and Patrick for the sale and purchase of the box of “Hunter” at 3:00 pm;

Answer 1

The meaning of offer and acceptance is the basis of a contract. To form a contract, there must be an offer made by one party which is, in turn, accepted by another party, and then, in most cases goods and/or services must be exchanged between the two.

Offers can really cover anything, from a verbal agreement to provide a service, such as housesitting, to a detailed contract with legal terminology that one may find in an agreement to transfer real estate.

As Andy in the present case has shown his intention to patrick for buying the product and has also offered consideration and the same is also accepted by patrick as he has accepted the payment, the present transaction would constitute a contract between the parties.