A and B are negotiating a contract under which,if it is concluded,B will purchase A's land.A sends a fax to B stating,"I will sell you the 40 acres of land that I own at 1234 Concession Road 2,County of Simcoe for $100 000.00." B faxes the following response: "I can't pay $100 000.00.Will you take $92 000.00?" On receiving this fax,A responds by saying,"$92 000.00 is the lowest that I can go." After thinking about it for a time,B faxes back to A saying,"I'll pay the $92 000.00,but I want you to throw in your harvester machine." A then responds by fax,which says,"Done.But maybe we should put the agreement in writing." No further response is forthcoming from B and the agreement is never put into a formal written document.A few days later,B bumps into A and says,"I'm getting the money to pay you for your farm." To which A replies,"Oh,I changed my mind,and since we don't have written contract,the deal is off." In this situation,what will both A and B argue,and who is most likely to succeed?

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The Answer of A and B are negotiating a contract under which,if it is concluded,B will purchase A's land.A sends a fax to B stating,"I will sell you the 40 acres of land that I own at 1234 Concession Road 2,County of Simcoe for $100 000.00." B faxes the following response: "I can't pay $100 000.00.Will you take $92 000.00?" On receiving this fax,A responds by saying,"$92 000.00 is the lowest that I can go." After thinking about it for a time,B faxes back to A saying,"I'll pay the $92 000.00,but I want you to throw in your harvester machine." A then responds by fax,which says,"Done.But maybe we should put the agreement in writing." No further response is forthcoming from B and the agreement is never put into a formal written document.A few days later,B bumps into A and says,"I'm getting the money to pay you for your farm." To which A replies,"Oh,I changed my mind,and since we don't have written contract,the deal is off." In this situation,what will both A and B argue,and who is most likely to succeed?

A and B Are Negotiating a Contract Under Which,if It