Stelwire LLC, a vintage car dealer, advertises the sale of a 1964 Ford Thunderbolt.Ralph responds to the advertisement with an offer of $80, 000 for the car.Stelwire signs a written assurance to keep that offer open to Ralph for a fortnight.Five days before the fortnight is up, Stelwire sells the car to another buyer.At the end of the fortnight period, Ralph tenders $80, 000 for the car, but the car has already been sold.Ralph then buys the same model car from another dealer for $90, 000 and sues Stelwire for breach of contract.The court rules that Stelwire is liable to Ralph for breach of contract, and orders Stelwire to pay Ralph the difference of $10, 000 he paid extra to the second dealer for the car.
-What was the nature of the contract between Ralph and Stelwire?

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The Answer of Stelwire LLC, a vintage car dealer, advertises the sale of a 1964 Ford Thunderbolt.Ralph responds to the advertisement with an offer of $80, 000 for the car.Stelwire signs a written assurance to keep that offer open to Ralph for a fortnight.Five days before the fortnight is up, Stelwire sells the car to another buyer.At the end of the fortnight period, Ralph tenders $80, 000 for the car, but the car has already been sold.Ralph then buys the same model car from another dealer for $90, 000 and sues Stelwire for breach of contract.The court rules that Stelwire is liable to Ralph for breach of contract, and orders Stelwire to pay Ralph the difference of $10, 000 he paid extra to the second dealer for the car.
-What was the nature of the contract between Ralph and Stelwire?

Stelwire LLC, a Vintage Car Dealer, Advertises the Sale of a 1964