Farber owned a quantity of corn which was contained in a corncrib located on Farber's farm. On
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Farber owned a quantity of corn which was contained in a corncrib located on Farber's farm. On March 12, Farber wrote a letter to Barber stating that he would sell to Barber all of the corn in this crib, which he estimated at between 900 and 1,000 bushels, for $5.60 per bushel. Barber received this letter on March 13 and immediately wrote and mailed on the same day a letter to Farber stating that he would buy the corn. The corncrib and its contents were accidentally destroyed by fire which broke out about 3 o'clock A.M. on Mar. 14.
(a) What are the rights of the parties?
(b) What difference, if any, in result if Farber were a merchant?
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Related Book For
Essentials of Business Law and the Legal Environment
ISBN: 978-0324303957
9th edition
Authors: Richard A. Mann, Barry S. Roberts
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