June offers to sell her RV to Cecil for $13,000. Cecil says he will apply for a loan and will buy the RV within a week. A contract is formed:
A) when Cecil tells June he will buy the RV.
B) when Cecil gets the money from the credit union.
C) when Cecil applies for the loan at the credit union.
D) only when June gets the $13,000.

Question

Quizplus · Accepted Answer

A contract is formed when there is an offer, acceptance, and consideration. Cecil's statement of intent to buy the RV constitutes acceptance of June's offer, forming a contract.

June Offers to Sell Her RV to Cecil for $13,000