Lori just purchased a brand new lawnmower for $500.When she got home and tried to use it,it would not work.She became angry and shouted,"I'd sell this thing for $50." Her neighbor heard her and said,"I'll take it," and offered Lori the $50 in cash.Which of the following best describes this situation?

Question

Quizplus · Accepted Answer

A contract requires mutual agreement, an offer and acceptance. While Lori made an offer to sell the lawnmower for $50, there was no acceptance by the neighbor nor any agreement on the terms of the sale, such as warranty or delivery. Therefore, there is no contract created by this situation.

Lori Just Purchased a Brand New Lawnmower for $500