Was there valid consideration exchanged between alisha-blake

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Assignment:

Alisha runs a second-hand car dealership. She decides to sell her personal car one day. She puts a notice on the back windscreen of the car. The notice reads, 'This car is for sale, excellent condition, low mileage, bargain at $15,000. Please phone 0412345678 or call in at 8 Hope Street, Bundoora.' Blake recognises Alisha's phone number. Alisha and Blake are good friends, and they have known each other for a very long time. On Monday morning Blake telephones Alisha and offers to buy the car for $14,500. Alisha refuses to accept Blake's offer, but she later replies 'I'll sell it to you for $14,800 - but what will you give me in return? Blakes then reminds Alisha: 'Remember how I helped you with your assignments while you were in your final year at university; that's the exchange! It's time for you to return the favour.' Blake tells Alisha that he needs to think about the new price of $14,800. Later that day Blake makes up his mind about the car and telephones Alisha on her home phone, but Alisha is out with one her best friends. Blake does not get to speak to Alisha, and he also does not leave a message for Alisha to inform her that he is happy with $14,800.

Use only relevant common law principles of contract law to answer questions 1, 2 and 3. Do NOT use legislation.

Who made the final offer, and had the offer been accepted?
Did the parties (Alisha and Blake) possess the necessary intention to form a legally binding agreement?
Was there valid consideration exchanged between Alisha and Blake?

Reference no: EM133876899

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