Question: Dalton Jewelers in Chicago engaged in lengthy negotiations with Repp
Dalton Jewelers in Chicago engaged in lengthy negotiations with Repp Realty Company in New York City for the purchase of a new building. The price of the building kept the parties from concluding an immediate agreement. Repp’s written offer to sell was $ 500,000. The representative for Dalton Jewelers finally replied by telegram offering $ 400,000, saying, “Take it or leave it.” Repp Realty filed the telegram for future reference but did not respond. Dalton then sent a letter stating that Repp should disregard its prior communication offering $ 400,000 and that it accepted the offer of $ 500,000. Repp Realty wrote back stating, “The price is now $ 600,000. Take it or leave it.” Dalton promptly sent a telegram to Repp Realty saying that it held Repp to its original offer of $ 500,000. Is Repp legally bound to sell the building to Dalton Jewelers for $ 500,000?
Answer to relevant QuestionsOn February 8, Leggett sent a telegram offering to sell Picarro a personal computer. Picarro received the telegram the same day (February 8). Picarro mailed a letter of acceptance on February 9 at 11 a. m., which reached ...On May 12, Leonard offered to sell Ginrich, an acquaintance, a used washer- dryer for $ 400. Leonard told Ginrich that he had until May 17 to accept this offer. On May 13, Leonard received an offer to purchase the washer- ...Spanos was three years behind in property tax payments on a building he owned. He listed the property for sale with a real estate agent and was made an offer of $ 230,000 in writing from D’Agostino. Spanos drew a line ...Davies was employed in the data- processing division of a bank. Desmond and Zwick, owners of a firm that manufactured athletic equipment, orally promised Davies a position as office manager if she would quit the bank job and ...Pearsall and Alexander drove to a liquor store to purchase lottery tickets. Pearsall went into the store alone, and when he came out, and in reference to the tickets asked Alexander, “ Are you in on it?” Alexander said, ...
Post your question