Thread: Venting
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Old March 23, 2012, 06:43 PM   #14
Zhillsauditor
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Join Date: October 19, 2008
Posts: 635
Quote:
A contract requires offer, acceptance and consideration.
The consideration (money) doesn't have to be delivered to make the contract binding. If I say to you, I'll Offer you $20 (Consideration) tomorrow morning for that widget, and you say, Okay (Acceptance), you have a completed contract, despite the seller not having the money until tomorrow (or presumably the buyer from having the widget until payment).
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