Legally; offers are defined as a promise to which the offeror is bound by. In this instance, the offeror is Wayne Shiftless, the manager of Trusty Motors, and the offer is a motor vehicle selling at five thousand dollars, alleged to be top condition mechanically and featuring a “great sound system”. It was also verbally offered that the brake pads would be repaired by the time of the purchase. Such is the first element of the contract. The second element of a contract; is acceptance.
The offer was physically accepted by you; Peter Ferguson. It was physically accepted by you when you handed the money over, it is also stated in your inquiry that you took “ownership of the car.” This than meets the criteria of the second element of the case.
The third element of contract is consideration. The consideration in this case is the $5000 that was paid in for the vehicle. Consideration can take any form, but more specifically the consideration must be of the same value that the promised is. The consideration was paid but the promised product was not received. Mutuality of agreement is the next element of a contract.
The agreement was that you, Peter Ferguson were to pay for a vehicle that is in working conditions, brake pads running and a functioning sound system.