Jacquelyn accepts Monique's offer to sell her a used car for $2,000.At what point is there a binding contract between the two parties?
A)When Jacquelyn and Monique make the agreement.
B)When Jacquelyn pays Monique the $2,000.
C)When Monique delivers the car to Jacquelyn.
D)Three business days after Jacquelyn accepts delivery of the car.
E)Three calendar days after Jacquelyn accepts delivery of the car.

Question

Quizplus · Accepted Answer

A bilateral contract is commonly defined as a promise in exchange for a promise.As soon as the promises are exchanged,a contract is formed and the parties' legal obligations arise.

Jacquelyn Accepts Monique's Offer to Sell Her a Used Car