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Jane T (LLC)
Jane T (LLC), Former straight A Student - Now Mom
Category: Homework
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Experience:  Degrees in Eng., econ; JD (law), MBA, former valedictorian & winner of academic scholarship
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Here is the second one: Your office client, Hector owns thoroughbred

Resolved Question:

Here is the second one: Your office' client, Hector owns thoroughbred race horses. Last week, Buzz Bumstead, a stablehand whose primary duty is to clean the horse's stalls at minimum wage pay, was admiring one of Hector's champion horses, Pokey. Pokey had won the Kentucky derby and was a favorite to win the upcoming Preakness.
After Buzz had asked some questions about the horse's breeding and age, Buzz asked Hector " How much will you take for Pokey?" Hector smilingly replied"I'll sell Pokey to you for $500." "All right" replied Buzz, "I'll take Pokey." Buzz simultaneously handed Hector $500 in cash. Hector immediately gave the money back to Buzz saying" I had no idea that you had so much money. This horse is not for sale. Pokey would bring at least $500,000 at an auction or on the open market. It's impossible for me to let you have Pokey for $500." Although Hectior refused to accept the money from Buzz, Buzz insisted that there was a valid contract and that he had bought the horse. Buzz has retained counsel to assist in enforcing the "contract." Hector has consulted your law office to ascertain if there is a valid contract and how he can get out of transferring ownership of Pokey to Buzz.

I have to have 5 issues and so far I am stuck: Verbal contract. elements of valid contract, Cash sale.

List 5 books Law Books to consult. I am lost but I think I would consult: Reporters, Digests, Am. Jur, Shephard. I don't have any Secondary Sources.
Submitted: 6 years ago.
Category: Homework
Expert:  Jane T (LLC) replied 6 years ago.

Jane T (LLC) :

Hi, issues include (1) verbal contract; (2) elements of a valid contract; (3) mistake; (4) objective theory of contracts; and (5) valid offer. You can consult (1) reporters, (2) Am. Jur., (3) Restatement, 2nd, of of Contracts; (4) Shepherds; and (5) treatises. YES - you do have secondary sources - Am Jur; Restatement, and treatises are all secondary sources.

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