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1. A wrote B as follows: “I will sell you my insurance business for $100,000”. B replies by letter: “I accept your offer with the understanding you will agree not to enter the insurance business again in this town for two years.” Was there a contract? Why?

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Solution Preview

When an offeree changes the term of an offer or introduces new condition in the offer, a counter offer is established. Here, B responded to A’s offer by adding a condition (you agree not to enter the insurance business again in this town for two years) which was not originally present in the offer. Therefore, even though B 

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