Does Peggy have any legal recourse against Bill?
Peggy had an oral contract with Bill to locate desirable real estate that she could use for rental property. Peggy stated she wanted to find condos that could be purchased for under $300,000 that could be rented for at least $2,000 per month per unit. Bill located a new condo unit that could be purchased for $260,000 and was renting for $2,200 per unit. Bill noted that the units were new and a great deal, and he bought a unit for himself. About a month later, Bill found a second property that was listed for $250,000 and rented for $2,300 per unit. Bill told Peggy about this second property and not the first property, and Peggy purchased the second property. Afterward, Peggy learned that Bill had bought the $260,000 condo without telling her about it. Peggy believes that Bill has acted improperly. Bill claims that he did what Peggy asked -- he found a property for under $300,000 that rented for $2,000 per unit. Bill argues that he did not tell Peggy about the first condo because the second condo was a better deal because the purchase price was lower, and the rental income was higher. Bill also claims that since their agreement was oral, he has a legal defense if Peggy pursues the matter in court. Does Peggy have any legal recourse against Bill?
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