INSTRUCTIONS: Read the following case study. Your answer must start with a decision on the case. Make certain you provide a complete reason in defense of your answer.
Contract?
Ed, a businessperson, is a friend of Fran - the owner of a Percolated Coffee & Baked Goods store. Every weekday morning, Ed spends about five minutes in Fran’s store. Typically, he looks over the display cases of baked goods, and usually purchases (and pays for) one or two cinnamon buns or bagels. One afternoon, Ed stopped by Fran’s store, looked over the items in the display case, picked up a $1 chocolate brownie, smiled and waved the brownie at Fran, and left the store without saying a word or paying for the brownie. Is there a contract between Ed and Fran? If not, why not? If you believe there is a contract, explain how it would be classified in terms of the contract concepts of formation, performance, and enforceability.? What additional facts would you need to know? Why?