Question
Suppose you are down at the marina cleaning your pleasure cruising boat. The captain of the boat next door has a friend on board who
Suppose you are down at the marina cleaning your pleasure cruising boat. The captain of the boat next door has a friend on board who can't stop complimenting your boat. The captain's friend offers to pay you $75,000 for your boat if he can take possession this week. You've had the boat for a while, and you yourself bought it used. Recently when you were considering an upgrade, a dealer offered you $50,000 in trade-in value on your boat. You decide to accept the next-door captain's friend's $75,000 offer. The two of you go down to his lawyer's office and the two of you sign a contract agreeing that you will hand over your boat and the captain's friend will wire $75,000 to your bank account within one business day. As the two of you agreed in the contract, the next day you move the boat into the designated slip (parking place) and you hand over the keys to the harbor master to be picked up by the new owner. However, a week goes by and you still do not have your money. You learn that the harbor master still has the keys. You try to track the buyer down, but you find out from the next-door captain that he, the captain, was surprised to learn his friend is currently in a rehab facility for serious drug addiction and mental exhaustion. Given that you have a written contract, do you think you would be able to enforce the contract and would be able to get the $75,000 in this situation?
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