Decides to sale her entire beany babies collection

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Reference no: EM132156361

Alice, a flower shop owner, decides to sale her entire Beany Babies collection. She put them in a case and displays them in her shop window with a for sale sign that states “Complete collection for sale, asking $100 OBO (OBO means Or Best Offer).” At the same time she decides to try to reach for a broader market by putting the collection on Ebay with no reserve bidding and a buy it now price of $500. Shortly after putting the collection up for sale, Bill walks by the flower shop window and sees the sign. He rushes in and proposes to give Alice $100 on the spot. Alice, seeing that the Ebay bidding price has gone up to $300 in a matter of hours and realizing how much people love her collection, declines. Alice, whom also personally despises Bill, but knowing she could use the money states, “Bill, you know I don’t like you. However, for you only, I will gladly sell these to you for $1,000. Have the money here by tomorrow and it’s yours.” Bill, upset that his original offer was rejected and at the absurd offer from Alice, says fine and goes home. While at home, Bill’s friend Clark, knowing that Bill love Beanie Babies and unaware that Alice is offering them at her shop, calls him up and informs Bill that he saw that Alice had her collection on Ebay for sale. Bill looks online and sure enough sees them for sale with a Buy It Now price of $500. Bill immediately clicks the button and purchases the collection.The next morning, Bill eagerly goes to pick up the collection from Alice. Upon seeing Bill and realizing he has purchased the collection online for $500, Alice screams, “No deal! I offered them specifically to you for $1,000. I would never sale my dear Beanie Babies to you for that low of a price!”

A. Is Alice obligated to sale Bill the Beanie Babies for his original offer price of $100?

B. Is Alice obligated to sale Bill the Beanie Babies for his accepted Buy It Now price of $500?

Assume Bill really didn’t want to buy the Beanie Babies for more than his original offer but after hearing from Clark, Bill became heavily intoxicated and clicked the Buy It Now button for $500. Further assume that Alice knew Bill was heavily drunk when he clicked the button. The next morning, upon sobering up and realizing what he had done, Bill immediately calls Alice to inform her that he does not want the Beanie babies.

C. Is Bill bound by contract law?

Assume Bill does want the Beanie Babies and upon realizing they are on Ebay, attempts to bid on the item. Intending to submit a $400 bid, Bill accidently and without noticing, enters a bid of $40,000 right before bidding ends.

D. What, if any, arguments or defenses, could Bill raise as to why his contract to purchase the Beanie babies for $40,000 should not be enforced?

Reference no: EM132156361

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