Negotiating the sale of piece of property

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Reference no: EM132119756

Shari and Todd are negotiating the sale of a piece of property, Shari selling the property to Todd. Todd offers to purchase the property from Sam for $65,000 in a conversation on 1 October. Shari leaves abruptly for another appointment after another hour of conversation, without having responded to Todd. As Shari is leaving, Todd says annoyed, “I really need to know as soon as possible.” On 2 October, Shari calls Barney and leaves a message, saying, “I accept your offer, but I’d like you to pay $70,000. I’d really appreciate it if you not fill in the pond in the backyard, where I used to sit with my mother. Look forward to hearing from you as soon as possible.”

Todd receives the message on the evening of 2 October. On the morning of 4 October, another buyer offers to purchase the property from Shair for $75,000, which Shari immediately accepts over the telephone. Shari immediately sends a letter of acceptance that is countersigned by the buyer and returned to Shari that same day. On 4 October, Todd mails a letter to Shari, by Express Mail, indicating that the price of $30,000 is fine and formally agrees to purchase the property, but stating that he will probably have to fill in the pond for the new construction.

Is there a valid contract between Shari and Todd for the sale of the property? Why or why not? What are arguments supporting each party’s position?

If, after hearing your arguments, the court were to determine that there is, in fact, a valid contract, would the contract be enforceable? Why or why not?

If the court determines that the contract between Shari and Todd is valid and enforceable, what would be the appropriate remedy(ies)?

Reference no: EM132119756

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