On June 1, Maureen sent an overnight express letter to Joel that offered to sell 10,000 shares in Tadpole Inc (a computer software company) for $5 each. Her letter did not require Joel to respond by any particular date but said he should email her his response right away. On June 3, Tadpole Inc publicly announced that its engineers had perfected a new technology that would revolutionize the electronic commerce industry. The shares of Tadpole increased to $70 each. On June 5, Joel returned from his cottage and learned of both Maureen's offer and the price of Tadpole Inc shares. His email was not working so he promptly sent an express letter to Maureen that said, "I accept your offer. I will pay a total of $50 ,000 for 10,000 shares in Tadpole Inc." and proceeded to sell 100 shares in stock in Apple Computers to pay for it. By 9 a.m. on June 6, the price of a single share in Tadpole had increased to $100. Maureen immediately express mailed Joel withdrawing her offer. On June 7, Apple announced its new IPhone and its stock immediately increased by $300 per share. On June 7, Maureen received Joel's letter accepting the contract. On June 8, Joel received Maureen's letter withdrawing her offer. Maureen refuses to sell Joel the Tadpole stock. 

Should Joel sue Maureen for breach of contract? If so would he be successful and what are his remedies? Can Joel recover even if he would not be successful for breach of contract?

Answer rating: 100% (QA)

The issue involves a breach of the contract between the contracting parties and about the compensati... View the full answer