Question
Gale, an avid horse lover, visits Branch at his horse ranch to look at a horse. The horse is amazing. Branch offers to sell Gale
Gale, an avid horse lover, visits Branch at his horse ranch to look at a horse. The horse is amazing. Branch offers to sell Gale the horse for $10,000. Not wanting to appear too eager (even though she intends to buy the horse), Gale tells Branch that she needs some time to think about it. Gale immediately goes home and contracts with her neighbor to lease a stall in his barn for $600/month and to pay his daughter $300/month to clean the stall and feed her horse. Gale also buys a used horse trailer for $2,500. On her way back to Branch's ranch to tell him that she wants to buy the horse, Branch calls Gale and tells her that he sold the horse to another buyer.Gale has a 87(2) option K with Branch that makes Branch's offer to sell the horse to her irrevocable, because her reliance was substantial.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started