Question
Allen decided that he would purchase a yacht with his first NBA check. He really liked the navy Blue yacht that Steph owned. On March
Allen decided that he would purchase a yacht with his first NBA check. He really liked the navy Blue yacht that Steph owned. On March 1 2019 Allen sent Steph a fax, offering to buy the navy blue yacht for 10 million dollars. On March 5 2019 Steph replied by fax that he would sell it, but only for 12 million. On March 7 2019 Steph changed his mind and sent Allen a fax, saying that he accepts Allen's offer of 10 million dollars to buy the navy blue yacht. Allen faxed Steph and told him no, I am not going to buy it for 10 million dollars. Steph got mad and told Allen that since Steph had accepted Allen's offer, Allen had to pay 10 million for the navy blue yacht, or Steph would sue him for breach of contract. Allen laughed to himself and thought, Steph should have gone to college before going to the NBA. QUESTION: With regards to this fact scenario, 1. Identify and define two contract principles, (but you can't use offer or acceptance) and explain how they apply to this scenario. 2. If Steph sues Allen, who would win? Explain your answer.
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