The Open Offer help

Mar 31st, 2015
Business & Finance
Price: $10 USD

Question description

Jimmy, an art dealer and merchant, is running out of funds. Luckily, he owns a priceless Van Gogh painting. He writes his friend Tommy. The letter says “Tommy you remember that Van Gogh painting you were interested in buying? I will offer it to you for $500,000. I will give you one month to accept this offer.” Jimmy signs the letter. Tommy receives the letter, and he is very excited. He writes back two weeks later saying that he accepts, and Tommy encloses a check for $500,000. Unfortunately, Jimmy received a better offer for the painting, and Jimmy accepts that one.

Is there a breach of contract? If so, what remedies may Tommy get?

Tutor Answer

(Top Tutor) Daniel C.
School: University of Maryland

Studypool has helped 1,244,100 students

Review from our student for this Answer

Apr 1st, 2015
"Excellent work as always thanks so much"
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