Hello Wifcon,
I am currently taking CON 90, and something came up in today's class that I couldn't understand from the instructor's explanation - would appreciate your help:
A quote is not an offer, and so cannot become a contract. The instructor was saying that quotations are missing one of the essential elements of a contract: Consideration. I was wondering why it wouldn't be explained as missing Mutual Assent, since the quotation was meant for information purposes only. It would appear to me that the quotation does lay out consideration (X dollars in exchange for Y widgets within Z timeframe) - why would it be not an offer because of lack of consideration?
Could someone enlighten me please? Thank you!