legal environment of business

Project Description:

sallymae advertised a 30-foot sailboat for sale in the local newspaper with the statement, “….bargain price $10,500.” fisher saw the ad, inspected the sailboat, and offered sallymae $5,500. they met at a restaurant to discuss the sell of the boat over lunch and cocktails. sallymae complained that the $5,500 was an insult and she would not sell the boat to fisher for $7,500. fisher none the less gave sallymae a check for $2,500 as a deposit on the boat. sallymae stated she did not want the check; fisher left the check on the table and walked out. sallymae put the check in her purse with no intention of cashing the check.
several days later sallymae called fisher and informed him that the $5,500 was too low a price but would accept $7,500 for the boat. in fact, sallymae stated she had another offer on the boat but wanted to give fisher another chance to buy the boat. fisher re-stated he would buy the boat for $5,500.
out of anger and frustration sallymae cashed fisher’s check and delivered the boat to fisher. in the meantime, fisher had found another boat which he purchased for $4,500. fisher rejected delivery of the boat by sallymae and demanded his check be returned.
sallymae refuses to take the boat and tells fisher the check had been cashed and demanded the outstanding balance of $2,500 be paid immediately.
what rights can the parties assert against each other?

discuss only contracct issues.
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Price Type: Negotiable

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