The buyer would have had an enforceable contract when he accepted the buy it now offer prior to paying money. He could have sued for what we call "specific performance" and gotten the bike had he chosen to do so.
Walter 'a lawyer" Nash Tucson AZ USA
Date: Fri, 30 Mar 2007 22:57:58 +0000 From: hersefan@comcast.net<about:blank> To: Thomas Adams <thomasthomasa@yahoo.com<about:blank>>, classicrendezvous@bikelist.org<about:blank> Subject: Re: [CR]ebay outing: cool Masi Message-ID: <033020072257.2248.460D95F600032AF7000008C82200734830020E000A9C9D0A08@com cast.net<about:blank>> Content-Type: text/plain MIME-Version: 1.0 Content-Transfer-Encoding: 8bit Precedence: list Message: 2
Are ebay contracts really contracts? Ebay says up and down they are, but my limited understanding of the legal world tells me that for a contract to be enforcible, the buyer must have given consideration (i.e. that $1 bill again) - and unless the buyer actually had paid the money, than there really isn't any consideration and therefore its not a true legal contract.
Can those unlike myself who may really know what they are talking about add their input?
Mike "not a lawyer" Kone in Boulder CO