Who is bound in the bike sale scenario after the assistant's offer of $75 and the owner's acceptance?

• A. The owner is bound to sell to the assistant for $75.
• B. The owner is bound to sell to the manager for $100.
• C. No one is bound because there are multiple offers.
• D. The owner is bound to sell to the best offer regardless of amount.

Answer: (A)

Mutual assent through an offer and its acceptance creates a binding sales contract. Here, the assistant makes a clear offer to buy the bike for $75, and the owner’s acceptance accepts those exact terms. That moment forms a contract at $75, obligating the owner to sell to the assistant for that price. The presence of another, higher offer from the manager doesn’t override the contract that was formed; it’s binding because acceptance of the assistant’s offer completed the agreement. The owner isn’t bound to the best offer unless there’s a separate promise to keep the offer open or similar arrangement. So the owner is bound to sell to the assistant for $75.