Valuable antique, David had been negotiating with Ian about

Valuable antique

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Reference no: EM13133804

David had been negotiating with Ian about selling him a valuable antique. On 1 March 2014
David promised to give Ian some time to think about the terms of the agreement.

On 10 June 2014 Sam made David a very attractive offer for the antique. Sam was anxious
to close the deal quickly and he insisted on a memorandum of sale being prepared outlining
the terms of the agreement. David agreed.

However, David stated that before he signed any agreement for the sale of the antique this
sale was to be made subject to a condition that he first obtain legal advice concerning any
contractual obligations he might have to Ian. This clause was not included in the
memorandum which was signed by both parties. Sam now wishes to finalise the sale and
insists the antique is his.

Required
Discuss the likely outcome in this dispute giving reasons.

Reference no: EM13133804

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