In order to advise Buford, contract laws must be discussed. The contract between Frank and Buford is the first one to be discussed. Five elements- Agreement (offer/acceptance), Consideration, Voluntary Compliance, Capacity and Legality are must be met in order to validation of this contract. Firstly, there is a definite and communicated offer and the acceptance of that offer between Frank and Buford, as they haggle over the price and agreed. Thus, there is an offer and acceptance between Frank and…
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