Monday, April 20, 2015

Picasso Painting

Stu bid $122 million for a Picasso painting, and the seller accepted the bid. Then the seller received a higher bid, $160 million. The seller told Stu the painting would not be delivered.

What are Stu's remedies? Explain.

3 comments:

  1. Stu get's no remedies. Unless there was a signed contract, Stu gets no remedies. Since the seller willingly didn't sell it because of reasonable reasons, Stu gets none. Stu should've paid more. 160 is better than 122

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  2. Stu really does not have many remedies unless there was a contract signed In the scenario it does not say there was a contract. If there had been a contract he could sue the seller, for backing out.

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  3. Stu dont have any remedies. unless there was a signed contract. If Stu want he should have bid more then the other person.

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