Is the contract for the replacement ring valid or void

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Reference no: EM13964299

Betty Tarrant took her diamond ring to Monson, a jeweler, for repairs. When Mrs. Tarrant returned to retrieve the ring, Monson could not find it. After several months of looking, the ring could still not be found. Monson offered to replace the lost ring with a ring of Mrs. Tarrant’s choosing. She selected a ring that was worth $400 more than the ring that was lost. Six months later, Monson found Mrs. Tarrant’s ring. Mrs. Tarrant refused to return the replacement ring and Monson sued to rescind the contract for the replacement ring. Is the contract for the replacement ring valid or void? Explain.

Reference no: EM13964299

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