What action has peter most likely taken by sending the text

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Assume the same initial facts in Essay Question 1, except that in Bill's text response to Peter, he asks to set the closing date on the sale of Peter's land for 30 days later, on October 1, and to which Peter agrees. However, on September 4 at a farm bureau meeting, Peter learns that a corporate farming operation is wanting to purchase large tracts of farmland in the area for $15,000 an acre. Peter texts Bill the same day, "I have decided I don't want to sell off my land in pieces."

1. What action has Peter most likely taken by sending the text, and what is Bill's recourse? Must Bill wait until October 1 to seek any recourse? Why or why not?

2. What is the most adequate remedy in this situation? Why?

Reference no: EM133575040

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