Company F sought to purchase the riverfront property of person M for $300,000 with a check of $1,000 as a deposit for the transaction to Banker C, agent of person M. As a counter offer holding open for 30 days, person M agreed to sell the riverfront property for $550,000. Another company H negotiated to buy the property from person M and executed the contract. Banker C had informed company H of the transaction. Immediately, Company F prepared a contract of acceptance of counter offer and presented it to the agent which was duly returned. Company F filed action for injunction. To discuss: If the contract exist between Company F and person M.

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Chapter 10, Problem 20CP

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Company F sought to purchase the riverfront property of person M for $300,000 with a check of $1,000 as a deposit for the transaction to Banker C, agent of person M. As a counter offer holding open for 30 days, person M agreed to sell the riverfront property for $550,000. Another company H negotiated to buy the property from person M and executed the contract. Banker C had informed company H of the transaction. Immediately, Company F prepared a contract of acceptance of counter offer and presented it to the agent which was duly returned. Company F filed action for injunction.

To discuss: If the contract exist between Company F and person M.

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