Hello! In the case study you referenced, John is trying to sell his bike, and Emily is willing tobuy it. John put up a $2,000 advertisement on the internet. When Emily reached out tohim with an offer of $1,600 for the bike, John responded with a bid of $1,800. John choseto sell the bike to Michael instead after receiving a higher offer of $2,200 from anotherperson. Emily believes she had a legitimate contract with John and was informed later. Toanalyze this situation, one must look at the rules of offer and acceptance. John'sadvertisement in this case appears to be an invitation to treat, as it solicits offers fromprospective buyers. Explanation: John countered with a new offer of $1,800, which can beseen as a rejection of Emily's first offer of $1,600, which Emily had made. This can be seenas Emily accepting John's invitation. please indentify the relevant issue? Explanation ofthe appropriate regulatory and governance frameworks? Analysis of the frameworks to theparticular facts?

Binding Contract:It is any agreement that legally enforceable..In case of a binding contract if it…

Answered: Hello! In the case study you…

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