Stanford University Meeting of the Minds to Form a Contact DiscussionSchool

Stanford University

Question Description

I’m studying for my Business Law class and don’t understand how to answer this. Can you help me study?

Discussion Topic 1:

What elements must be present for there to be a “meeting of the minds” to form a contact? If I am very frustrated with my car after being told that a repair will cost a lot of money and I say, “I’d take 2 cents to get rid of this money pit of a car.” Can you say, “sold, here is a nickel and you can keep the change” and have an enforceable contact?