w6 discussion

Seller called Buyer on the telephone and offered to sell his used stereo. The buyer agreed to buy it without asking the price. The next day Buyer changed her mind and attempted to back out of the agreement.

• Do the parties have a contract?

Analyze the question in two different ways:

1. The seller is a merchant and the buyer is a college student.

2. Both the seller and the buyer are college students (i.e. not merchants)

How does your analysis change? What other information would you want to know to help inform your opinion? Make sure to analyze both scenarios under both the UCC and common law.