Determine whether contract was formed between the parties

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Reference no: EM132138319

Mr. Maust, who had a long-term relationship with the Pennsylvania-Lake Erie Railroad Company for the supply of diesel fuel, suggested that a formal contract be agreed upon by the parties to cover future supplies of fuel. The railroad sent Mr. Maust a draft contract for review. Mr. Maust added some changes and sent it back to the railroad and wrote “approved” at the end of the draft. For some time, both parties then acted consistently with the terms that had been developed by the parties. Unfortunately, there was a disagreement, and when diesel prices rose (causing Mr. Maust to lose money on the deal) Mr. Maust argued that there was no formal agreement in place between them. Determine whether a contract was formed between the parties.

Reference no: EM132138319

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