Question

Polaris intended to advertise their new 2021 jet ski for sale for the price of $15,000.00. When Bill Smith, at Big Smith’s Watercraft, created the newspaper advertisement, he typed the advertisement incorrectly for $1,500.00. Tom Riddle took a copy of advertisement to Bill Smith with $1,500.00 in cash to purchase the new jet ski. Bill advised him that it was an accident and that he did not intend to sell the Jet Ski.

Consideration must include something legally sufficient of value that must be given in exchange for the promise, that includes:

a. a promise to do something that one has no prior legal duty to do

b. the performance of an action that someone must undertake

c. clearly communicated terms communicated to the offeree

d. serious intentions to be bound

Answer 1

Explanation: olaris intended to advertise their new 2021 jet ski for sale for the price of $15,000.00. When Bill Smith, at Big Smith’s Watercraft, created the newspaper advertisement, he typed the advertisement incorrectly for $1,500.00. Tom Riddle took a copy of advertisement to Bill Smith with $1,500.00 in cash to purchase the new jet ski. Bill advised him that it was an accident and that he did not intend to sell the Jet Ski.