Problem 1: One day over breakfast, Tom offered to buy Bob’s cottage for $35,000.
ID: 338578 • Letter: P
Question
Problem 1:
One day over breakfast, Tom offered to buy Bob’s cottage for $35,000. Bob responded that it would be
nice to have the money since he would like to buy a new car. Tom grabbed a napkin and wrote down
the following:
August 3, 2017
I agree to sell Tom my cottage for $35,000.
Tom handed the napkin to Bob who laughed at him but took the pen and signed it with a large, fancy
version of his signature. Bob tossed the napkin back over to Tom, paid the bill, and left the restaurant.
The next day, Tom took a guaranteed check for $35,000 to Bob. Bob refused to accept it, insisting that
he did not want to sell the cottage.
Analyze all of the potential legal issues in this case to determine the likely outcome if Tom files a lawsuit.
Explanation / Answer
Problem 1:
One day over breakfast, Tom offered to buy Bob’s cottage for $35,000. Bob responded that it would be
nice to have the money since he would like to buy a new car. Tom grabbed a napkin and wrote down
the following:
August 3, 2017
I agree to sell Tom my cottage for $35,000.
Tom handed the napkin to Bob who laughed at him but took the pen and signed it with a large, fancy
version of his signature. Bob tossed the napkin back over to Tom, paid the bill, and left the restaurant.
The next day, Tom took a guaranteed check for $35,000 to Bob. Bob refused to accept it, insisting that
he did not want to sell the cottage.
Analyze all of the potential legal issues in this case to determine the likely outcome if Tom files a lawsuit.