Problem 1:
One day over breakfast, Tom offered to buy Bob’s cottage for$35,000. Bob responded that it would be
nice to have the money since he would like to buy a new car. Tomgrabbed a napkin and wrote down
the following:
August 3, 2017
I agree to sell Tom my cottage for $35,000.
Tom handed the napkin to Bob who laughed at him but took the penand signed it with a large, fancy
version of his signature. Bob tossed the napkin back over toTom, paid the bill, and left the restaurant.
The next day, Tom took a guaranteed check for $35,000 to Bob.Bob refused to accept it, insisting
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