Reference no: EM13889971
Alan is a collector of rare stamps. While visiting Bob's house, Alan notices an old envelope on Bob's desk with an old stamp on it. Alan tells Bob he will pay him $500 for the stamp, believing the stamp is worth $15,000.
Bob tells Alan he will think about it and checks out the stamp with Charles, his brother, who happens to be an expert in rare stamps. Charles tells Bob he believes the stamp to be a worthless forgery but, if genuine, the stamp would be worth $10,000.
Bob sends a letter to Alan stating he will not sell the stamp for $500 but would sell it for $8,000 if Alan pays him the money in person by July 1.
Alan does not have the money so he tells Debbie about the stamp. Debbie agrees to buy the stamp for $8,000 and pays Alan $1,000.
Debbie shows up on July 1 with the $8,000 but Bob gets cold feet and refuses to sell her the stamp.
Debbie comes to you for advice. She is uncertain about her legal rights against Bob and Alan and uncertain about her remedies against Bob and Alan. Discuss any possible legal action Debbie would have against Bob and Alan and any defenses that could be raised.
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