If I sell something on an online auction/sales site, am I creating a contract?
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If I sell something on an online auction/sales site, am I creating a contract?
Asked on October 30, 2013 under Business Law, Florida
Answers:
Anne Brady / Law Office of Anne Brady
Answered 10 years ago | Contributor
Yes, if you sell something in an online auction, you create a contract. When you put the item up for sale, you are making an offer to sell it for a certain price. Typically, there is a minimum price that will be accepted. The offer is made to anyone who sees your site. Once someone agrees to pay that price, you have acceptance. With an auction, there may be several bidders but only one successful buyer. Still, once the auction closes, you have a contract for the sale of the item. You have an exchange of promises to sell and to buy, and you have valuable consideration for each.
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