The owner of an award-winning thoroughbred racehorse sent an…
The owner of an award-winning thoroughbred racehorse sent an e-mail to a horse breeder offering to sell him the horse for $80,000 if he bought the horse before November 15. The breeder was extremely knowledgeable about horses and knew that comparable horses were being sold for $100,000. On November 1, just as the breeder was headed to his bank to get a certified check for the purchase of the horse, he received another e-mail from the owner stating that he had changed his mind and the horse was no longer for sale. The breeder got the check and drove to the owner’s stable anyway, where he saw a “horse for sale” sign nailed to the outside of the horse’s stall. The breeder located the owner behind the stable, tendered the $80,000 certified check, and demanded the horse. The owner refused. If the breeder brings an action seeking damages for breach of contract against the horse owner, what is his likely recovery?
Read Details