Problem
Comment on the following case: Has a contract been formed? Discuss how contract law would determine who has made an offer and acceptance in this case:
The Defendant offered to sell to the Plaintiffs 2,600 shares in a company for $2.00 per share. Plaintiffs responded by letter accepting the defendant's offer and stating that upon verification of the company's financial position and liabilities a price of $2.00 per share would be paid. Was there a binding contract or was the Plaintiffs' acceptance conditional and therefore ineffective.
Cyber Monday, the Monday after Black Friday in the US, is reportedly the biggest online shopping day of the year.
Do you think that an online contract should have special rules on formation to differentiate it from a normal retail contract? What problems do you see with online contracts that would require these rules?