Bibek owns a beautiful antique Indian carpet. Swostika loves the carpet and had begged Bibek to sell if to her on a number of previous occasions. On 10 June, Bibek makes an offer to Swostika by post to sell her the carpet. He offers to sell her the carpet for $50,000 and gives her 21 days to accept. However, Swostika is having some difficulty raising the money, so she does not reply immediately. In the meantime, Rajesh approaches Bibek and offers him $60,000 for the same carpet. Rajesh has the amount in cash and so Bibek decides to accept his offer, takes Rajesh’s cash and gives Rajesh the carpet. Swostika is not aware of this. On 19 June Swostika finally secures finance and then posts her acceptance of Bibek’s offer to Bibek. Swostika then discovers that Bibek has sold the carpet to Rajesh and is very upset. Swostika comes to you for advice as to what she can do.

Advise Swostika. In your advice, please ensure that you refer to relevant case law. can you write more detail relevant to business law?

Answer rating: 100% (QA)

This situation is rooted in the principles of contract law specifically those governing offer and ac... View the full answer