Mira offered to sell Peter a parking lot for $75,000. The offer was in writing and signed by Mira and provided that any acceptance by Peter must be within 5 days. On the fourth day, Mira accepted a better offer from Dean and transferred the parking lot to Dean on that day. Unaware of this sale, Peter telephoned Mira on the fifth day and accepted Mira’s offer. In an action by Peter against Mira for breach of contract, judgment for whom?

Question

07-05-2020
Business

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Mira offered to sell Peter a parking lot for $75,000. The offer was in writing and signed by Mira and provided that any acceptance by Peter must be within 5 days. On the fourth day, Mira accepted a better offer from Dean and transferred the parking lot to Dean on that day. Unaware of this sale, Peter telephoned Mira on the fifth day and accepted Mira’s offer. In an action by Peter against Mira for breach of contract, judgment for whom?

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Answer:

Yes the agreement among Mira and Peter is legal because it is in inscription and each have acknowledged the terms of the agreement. It has the agreement of each the parties, a worth set, period is assumed for thought and is in inscription and onward might be a legal agreement. Mira signed the manuscript and then she has to anticipate the five days specified to Peter to finish and if he failed to reply once those 5 days, solely then Mira will select alternative provide. She is absolute to wait and provides the assets to Peter if he approves to the agreement before those five days. Therefore the agreement is effective and Mira is absolute to it.