Agreement for the sale of farm


Assignment:

Question 1. Lucky and Zero had known each other for 15-20 YEARS. For some time, Lucky had been wanting to buy Zero's farm. Zero always told Lucky he was not interested in selling. One night, Lucky stopped in to visit with Mr. and Mrs. Zero at a restaurant. Lucky said to the Zeros: "I bet you wouldn't take $50K for that place." Zero replied, "Yes, I would, too; you wouldn't give fifty." Throughout the evening, the conversation returned to the sale of the farm as the three people were having dinner and their favorite alcoholic drinks. Eventually, Zero wrote up an agreement on the back of a restaurant check for the sale of the farm. Zero, his wife, and Lucky signed the agreement. Lucky files a lawsuit to enforce the agreement. Zero argued that he had made the offer in jest. He stated it was just "three friends bluffing to see who could talk the biggest and say the most. Lucky claimed he was't bluffing and didn't think Zero was either. Lucky supported this by saying just look at the way the Zeros handled the transaction. Who wins the lawsuit?

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Business Management: Agreement for the sale of farm
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