Gardner owned a quantity of corn

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Gardner owned a quantity of corn, which was contained in a corncrib located on Gardner's farm. On March 12, Gardner wrote a letter to Bassett stating that he would sell to Bassett all of the corn in this crib, which he estimated at between nine hundred and one thousand bushels, for $3.90 per bushel. Bassett received this letter on March 13 and immediately wrote and mailed on the same day a letter to Gardner stating that he would buy the corn. The corncrib and its contents were accidentally destroyed by fire that broke out about 3 A.M. on March 14.

(a) What are the rights of the parties?
(b) What difference, if any, in result if Gardner were a merchant?

Reference no: EM131045574

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