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    Hi does anyone know what type of contract this would be under?

    X made an offer to sell something to y for £1000 on Monday. y replied “I will buy it if I can manage to raise the funds”. x promised that she would not sell to anyone else before the following Monday, and added that y could collect the ring any time before noon on the Monday

    I'm stuck, at first I thought unilateral but I'm wrong
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    what spartan said ....
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    It's collateral; fulfilling an obligation as per the contract will lead to the execution of performance of another contract. Check out the case of Carlill v Carbolic Smoke Ball, for example, where the contract of buying a product and using it as described and STILL catching influenza collaterally created another contract!
 
 
 
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Updated: March 21, 2016

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