Joe Entered into a Contract to Sell His House to Sam

question 159

Essay

Joe entered into a contract to sell his house to Sam for $200 000.Explain under what circumstances this contract would be binding on the parties even where it was not in writing or evidenced by writing.

---

Definitions:

Sales Forecast

An estimate of the amount of goods or services a company expects to sell over a certain period.

Target Markets

Specific groups of consumers identified as the intended recipients of a marketing strategy or campaign.

Build-up Method

A financial analysis tool used to estimate the value of a business by adding together its individual components' values.

Market Segmentation

The practice of dividing a broad target market into smaller groups with similar needs or characteristics to target each group more effectively.