Mike responds to Flavio's statement that he would like to buy Mike's motorbike for $3,000 by saying that he would want $4,000,given the work he has put into it.Flavio says OK.I'll give you that.Here's $2,000,and I'll give a promissory note for the balance payable at $500 a month for the next 4 months."
1)There is a contract.
2)There is no contract.
3)Flavio's first statement to Mike was an invitation to do business.
4)Mike's response was a counter offer.
5)Flavio's final statement to Mike was an acceptance.
A)1 and 3.
B)1,3 and 4.
C)1,3,4 and 5.
D)2.
E)2 and 4.

Question

Quizplus · Accepted Answer

The Answer of Mike responds to Flavio's statement that he would like to buy Mike's motorbike for $3,000 by saying that he would want $4,000,given the work he has put into it.Flavio says OK.I'll give you that.Here's $2,000,and I'll give a promissory note for the balance payable at $500 a month for the next 4 months."
1)There is a contract.
2)There is no contract.
3)Flavio's first statement to Mike was an invitation to do business.
4)Mike's response was a counter offer.
5)Flavio's final statement to Mike was an acceptance.
A)1 and 3.
B)1,3 and 4.
C)1,3,4 and 5.
D)2.
E)2 and 4.

Mike Responds to Flavio's Statement That He Would Like to Buy