Question
Wang orally agreed to sell a thoroughbred horse to Presti for $60,000. When Presti sent a check in payment, Wang told him that he intended
Wang orally agreed to sell a thoroughbred horse to Presti for $60,000. When Presti sent a check in payment, Wang told him that he intended to hold the check for a month for tax purpose. Wang retained possession of the horse. While the check remained uncashed, a disagreement arose between Wang and Presti. Wang announced that he would not go through with the transaction and that, since the contract was oral, it was unenforceable. Presti claimed that his sending the check was payment and this action made the oral contract valid and enforceable. Wang denied accepting payment. Is Prestis claim, that sending the check make the contract enforceable? Why or why not?
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