Mark is a jazz singer who performs across the country. He lives in Toronto and is interested

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Question:

Mark is a jazz singer who performs across the country. He lives in Toronto and is interested in buying a small nightclub downtown he can perform in. He has discussions with the club’s owner, Ryan. Ryan is the head of the Ontario Music Association and is well known throughout the industry. He also has a significant social media presence. Ryan tells Mark he is willing to sell the club to her for $200,000. He also says he is going out of town in one week’s time and therefore needs him to accept his offer by Friday, after which the offer will end. Because he is rarely home, Ryan tells Mark if she wants to accept his offer, she has to send an email to him at his email address, ryansemail@gmail.com.

Mark speaks with his banker to see if she can arrange for financing and then decides to accept Ryan's offer. On Thursday, he calls and leaves a message on his voicemail telling him this. In the meantime, Ryan has decided to sell the club to someone else and tells this to his friend Tony. Tony and Mark are friends, so Tony calls Mark and tells him Ryan has decided to sell to someone else. Mark is upset and immediately writes to Ryan at his ryansemail@gmail.com account telling him he accepts his offer to sell the club to him.

For the purpose of this question, ignore the fact that the law requires contracts involving land to be in writing.

Questions:

(a) Does a binding legal contract exist between Ryan and Mark for the purchase by Mark of Ryan's nightclub? Why or why not?

(b) If Ryan's offer to sell the club had been accepted but did not contain the sale price ,what effect if any would that have on your answer to (a) above? Discuss your reasons.

(c) If Ryan's offer to sell the club had been accepted but he and Mark were brothers what effect would that have on your answer to (a) above, if any? Discuss your reasons.