You meet someone in the local tavern and strike up a conversation about real estate. It turns out that you have a piece of property that you would like to sell and he is interested in buying it. Over several alcoholic drinks, the two of you work out the details and jot them down on cocktail napkins. In the cold light of day, you realize that the sales price is far below market. Is there anything that you can do? Is there anything the buyer can do to enforce the agreement? (In your discussion, list the five basic elements of a valid contract.)

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The Answer of You meet someone in the local tavern and strike up a conversation about real estate. It turns out that you have a piece of property that you would like to sell and he is interested in buying it. Over several alcoholic drinks, the two of you work out the details and jot them down on cocktail napkins. In the cold light of day, you realize that the sales price is far below market. Is there anything that you can do? Is there anything the buyer can do to enforce the agreement? (In your discussion, list the five basic elements of a valid contract.)

You Meet Someone in the Local Tavern and Strike Up