Lisa Is Flipping Through the Sunday Paper When She Sees

Essay

Lisa is flipping through the Sunday paper when she sees the following advertisement: "For sale: 5 Sony stereos, Model 10b-5, only $250.00, first come first served." Lisa is the first person at the store that morning but the store refuses to sell the stereos, saying that the advertisement was not an offer, only an invitation for consumers to make the store an offer. The store will not sell the stereos for less than the fair market value of $500.00. Discuss the rules concerning contract formation through advertisements and then apply the rule to the above facts.