You see an advertisement posted for college textbooks. The advertisement says that the first book you purchase will only be $1. It is limited to the first 100 customers of the semester. You rush into the store and offer them $1 for Professor Tharp's outrageously overpriced book "Fantastic Laws and How to Exploit Them." The list price is $1,500.00. The cashier at the checkout rings you up. The price comes up at $1,700.00 plus tax. You look at the cashier incredulously. "This is supposed to be $1," you cry. The cashier waves you off, and mentions that the person before you was the 100th customer, so you are out of luck. You storm out of the store, and purchase the book used (previous edition) off Amazon for 10 cents plus $3.99 shipping.
Two days later, you receive an invoice from the bookstore - it reads:
"Dear Sir/Madam,
You have an overdue balance of $2,700.00 plus tax, that needs to be paid immediately.
(1) x Fantastic Laws and How to Exploit Them - $1,700.00
(2) x 1 day storage fee at $500.00- $1,000.00
Subtotal: $ 2,700.00
Tax: $189.00
Total Owed: $ 2,889.00
We thank you for shopping at our store, it has been our pleasure to serve you!"
Was there a contract formed between you and bookstore? Why or why not? Was there an offer made by the bookstore? How about an acceptance on your part? Does silence count as an acceptance? Was there a counteroffer made by the bookstore?
How much money do you owe the bookstore?