Decided to contact business associate

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Reference no: EM132222637

Contract Law:

Clarke wants to sell his yacht. He decided to contact a business associate, Chris.

On June 20, Clarke telephones Chris offering to sell him his yacht for $2,800,000 cash on delivery. Chris arranges to inspect the yacht during the week. After he has done so, he telephones Clarke on June 25 to say: “I am interested and it’s a good price for its condition. But payment in two installments would suit me better. What do you think about that?”.

Clarke replies that he would like some time to think it over and will let him know.

On July 3, having not heard from Clarke, Chris wrote and posted a letter to him saying: “As I have not had a reply from you, and I am anxious to complete this deal, I accept your offer to sell the yacht me for $2,800,000 cash on delivery. Please contact me soonest possible to arrange delivery.

Clarke replies to this letter on the 6 July and also telephones Chris to inform him that he has changed his mind about selling the yacht and now wants to keep it. Chris is furious and says, “But you can’t do that, I agreed to your price and we have a deal.”

Clarke seeks your advice about his legal position.

Reference no: EM132222637

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