Thomas contacted Welsh, a realtor, and asked him to be looking for property that is at least 20 acres, zoned commercial, within the city limits. Welsh responded that he would look for such a property and reminded Thomas that the typical finders fee in such a situation is 10% of the property asking price. If Thomas responds with "I know," the parties have formed an express contract by mutually manifesting assent to the essential terms.

Thomas contacted Welsh, a realtor, and asked him to be looking for property that is at least 20 acres, zoned commercial, within the city limits. Welsh responded that he would look for such a property and reminded Thomas that the typical finders fee in such a situation is 10% of the property asking price. If Thomas responds with "I know," the parties have formed an express contract by mutually manifesting assent to the essential terms.