A wealthy art owner promises to give his collection to a big city art museum. The collection is valued at $$100,000,000.$ In reliance, the city art museum builds a new wing to its building. On the way to his lawyer to sign the paperwork for the gift, the art owner is in a car accident and dies. What can the art museum argue when the art owner's heirs claim the art is part of the estate?

The art museum has no argument and has no chance to win.

The art museum can argue there is a valid contract supported by consideration.

The art museum reasonably relied on the art collector's promise to give the museum the art and the gift is binding under promissory estoppel.

The art museum can get the art if it buys it from the art owner's heirs.