Question

On August 24, Edward Charles offered to sell his 1967 Chevy Corvette Convertible for $150,000 to Mark Anderson. Anderson offered to pay $125,000. On August 24, Charles rejected Anderson’s offer of $125,000. On August 28, Anderson offered $150,000 for the car. Charles refused to sell and Anderson sued for specific performance of the contract. Will the court require Charles to sell the car? Use legal theories and the facts to support your answer.

Answer 1

Answer:

No, Charles will not be required to sell. The original deal involved $150,000, but the Anderson made a counteroffer which eliminates the original deal. Since Charles rejected the counteroffer, there is no legal obligation between both parties. If the car is going to be sold, new terms must be agreed by both parties.