23. Brad made an offer to buy an expensive painting from the…
23. Brad made an offer to buy an expensive painting from the Acme Art Gallery. He makes a written offer to buy the painting for $200,000. In order to make it clear to Acme that he is serious, he encloses a deposit of $10,000 with his offer. Acme thinks a long time about the offer and cashes Brad’s check. Finally, Acme decides to reject the offer. Acme refuses to refund Brad’s deposit. If Brad sues Acme for the $10,000, how would that amount most likely be characterized?
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