You are an assistant to the attorney for FUN company. To complete this assignment you must write a two-to-three page report discussing the legal issues and likely outcome of the case below:

SAD Co. vs. FUN Company: Several weeks ago, SAD Co. CEO met with FUNs CEO for lunch to discuss potential business ventures between both companies. After a few shots of whiskey, SADs CEO tells FUNs CEO that SAD is interested in purchasing a commercial building that FUN owns in a central area in West Palm Beach. SAD is interested in this building because of the specific location in which it is located. SAD believes that owning a building in that specific location will increase their business significantly. SADs CEO offers FUNs CEO to purchase that specific building for $5 million. FUNs CEO responds that FUN estimates that the building is worth $9 million and that they are willing to sell the building for that price give that they have no use for it. SADs CEO takes out a $1.00 bill gives it to FUNs CEO and says this is my payment so that you give me time to talk to my board and see if we are willing to pay $9 million. FUNs CEO laughs and puts the $1.00 bill in his pocket. Both CEOs shake hands and say goodbye and leave. The next day SADs CEO calls an emergency meeting to discuss the $9 million purchase price and the board agrees to the purchase of the building for $9 million. Immediately after the meeting, SADs CEO calls FUNs CEO on the phone and tells him that SAD agrees to purchase the building for $9 million. FUNs CEO tells SADs CEO that FUN has decided not to sell the building because after their meeting yesterday they realized how much potential the building actually had. SAD is now demanding that FUN honor its word and sell them the building for$9 million.