Contract Law 問題

Peter writes a letter to Paul, offering to sellhim his car for HK$50,000.00. At the same time, Paul writes a letter to Peter offering to buy the car for HK$50,000.00. Peter and Paul do not take further action and the next day Peter sells the car to Mary for HK$55,000.00

Did a contract exist between Peter and Paul?

1 Answer

Rating
  • K
    Lv 7
    1 decade ago
    Favorite Answer

    A contract should be a mutual agreement between two parties, not the suggestion from either one.

    The situation mentioned seems that both people make a suggestion to each other only, but without the YES/NO reply. However, if Paul's letter to Peter is a reply to Peter's suggestion, then there is an agreement between them.

    Therefore, it doesn't matter whether Peter sells the item to Mary at a lower or higher price. The point is that Peter and Paul have never reached an agreement and so there is no contract.

    2008-06-11 11:32:17 補充:

    You might be interested in the link below:

    http://www.businessdictionary.com/definition/contr...

    2008-06-11 11:35:51 補充:

    So there should be:

    (1) an offer from one side;

    (2) acceptance of the offer by another;

    (3) valid (legal and valuable) consideration.

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