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It is fairly clear from the facts given that an effective contract has been formed so as to bind the parties. Betty asked Art to drill a well; Art laid out price and the maximum depth to which he could drill. Then Betty asked for a guaranteed completion date and Art agreed, asking for an advance. Betty paid the advance – thus manifesting her intent to be bound by all of the terms of the parties. Sufficient consideration is present since both parties incurred a legal detriment.
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