On May 1^st, Bob offers to sell his car to Carol. Carol tells him that she'll need a few days to decide. He says that he'll give her till May 3^rd. On May 2^nd, Bob sells the car to Ted and Alice. On May 2^nd Carol sees Ted and Alice who inform her about their purchase. On May 3^rd Carol calls Bob to accept. Which of the following is correct?

Question

Quizplus · Accepted Answer

Although Bob made an offer to Carol on May 1st and set a deadline of May 3rd for her to accept, he was not obligated to wait until that date before selling the car to someone else. Therefore, a contract was not formed between Bob and Carol. Additionally, promissory estoppel (D) applies when one party makes a promise that induces the other party to take action, but there was no clear promise made by Bob in this situation.

On May 1st, Bob Offers to Sell His Car to Carol

On May 1^st, Bob Offers to Sell His Car to Carol