In July of 1977 Dr. Sedmak read in Vett Vues, a Corvette fanciers magazine, that the Pace
Question:
In July of 1977 Dr. Sedmak read in Vett Vues, a Corvette fancier’s magazine, that the Pace Car, a special edition of the Corvette, would soon be manufactured. He was a collector of Corvettes and wanted one of the 6,000 that were to be placed on sale. In January of 1978 Mrs. Sedmak gave Charlie’s Chevrolet a $500 check as a deposit on a Pace Car and specified the options the Sedmaks desired. She was then informed that the purchase price of the car would be around $15,000. In April of 1978 the Sedmaks were notified that the Pace Car, equipped as specified, had arrived. However, because of the unanticipated high demand for the car, it would be put up for sale to the highest bidder. The Sedmaks did not submit a bid; instead they filed a suit for specific performance. The trial court found that the parties had entered into an oral contract. If that contract could be excepted from the application of the Statute of Frauds, the court would order specific performance as petitioned by the Sedmaks. Charlie’s Chevrolet would then have to sell them the car at a reasonable price which, given the options added, would be around $15,000. What exception to the application of the Statute of Frauds would this transaction fall under? (Sedmak v. Charlie’s Chevrolet, Inc. 622 S.W. 2d 694)
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