Business Law
The situation that occurs in this case can be better understood through an analysis of the elements of a valid contract. To be more specific, the area of focus is “offer and acceptance” (Kubasek, et al., 2015). The response that Curly gives to Moe is an offer, as he clearly states the amount he is willing to sell the 50-acre tract. His offer is clear that he will not sell the tract for an amount below $1 million dollars. The response of Moe, on the other hand, is an acceptance of the offer, which is also an essential component ...
