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lwpat
lwpat, Attorney
Category: Business Law
Satisfied Customers: 25387
Experience:  Attorney with over 35 years of business experience.
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Owen sent a letter to Tunison asking him to sell his property

Resolved Question:

Owen sent a letter to Tunison asking him to sell his property in Maine for $6,000. Tunison replied with a letter to Owen saying "Because of improvements to the property it would not be possible for me to sell it unless I were to receive at least $16,000 in cash." Owen wired Tunison "Accept offer; terms $16,000 cash; send deed to Eastern Trust & Banking Co. Please acknowledge." Four.days later Tunison notified Owen be did not want to sell the property. Owen sued. What, if anything, might Owen recover from Tunison.
Submitted: 6 years ago.
Category: Business Law
Expert:  lwpat replied 6 years ago.
Owen sent a letter to Tunison asking him to sell his property in Maine for $6,000

Offer

Tunison replied with a letter to Owen saying "Because of improvements to the property it would not be possible for me to sell it unless I were to receive at least $16,000 in cash.

Counteroffer

Owen wired Tunison "Accept offer; terms $16,000 cash; send deed to Eastern Trust & Banking Co. Please acknowledge."

Acceptacance

Owen can sue for specific performance for the court to order Tunison to sell the property.

An offer: an expression of willingness to contract on a specific set of terms, made by the offeror with the intention that, if the offer is accepted, he or she will be bound by a contract.A counter-offer is not the same as an acceptance. A counter-offer extinguishes the original offer: Acceptance: an expression of absolute and unconditional agreement to all the terms set out in the offer. It can be oral or in writing. The acceptance must exactly mirror the original offer made.

Here the subject matter was definite and the acceptance unconditional. The acceptance was made by wire which would be acceptable since the counteroffer did not specify how the acceptance was to be made.
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