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MMLU / An art collector attended a party on March 15. At the party, the art collector…

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question

An art collector attended a party on March 15. At the party, the art collector was describing his collection to a woman in attendance. When the art collector described a painting by a well-known artist, the woman indicated she might like to buy that painting. The art collector said, "I'll sell you the painting for $10,000. I'll give you 30 days to decide whether you want the painting. " On March 25, the art collector wrote to the woman and stated that the offer of March 15 was withdrawn. The woman received the March 25 letter on March 26. On March 27, the woman wrote the art collector the following letter:"Please be advised that I hereby accept your offer of March 15. " The art collector received this letter on March28. Thereafter, the art collector and the woman engaged in several telephone discussions. On April 10, the woman, in a telephone conversation, told the art collector that she would pay $15,000 if the painting was delivered on or before April 15. The art collector agreed to deliver the painting for 15,000.OnApril15,theartcollectortenderedthepainting,butthewomanrefusedtopaymorethan15,000. On April 15, the art collector tendered the painting, but the woman refused to pay more than 10,000. If the art collector asserts a claim against the woman for breach of contract, which of the following is the most accurate statement?
Plain-text mathematical notation (without MathML)
An art collector attended a party on March 15. At the party, the art collector was describing his collection to a woman in attendance. When the art collector described a painting by a well-known artist, the woman indicated she might like to buy that painting. The art collector said, "I'll sell you the painting for $10,000. I'll give you 30 days to decide whether you want the painting. " On March 25, the art collector wrote to the woman and stated that the offer of March 15 was withdrawn. The woman received the March 25 letter on March 26. On March 27, the woman wrote the art collector the following letter:"Please be advised that I hereby accept your offer of March 15. " The art collector received this letter on March28. Thereafter, the art collector and the woman engaged in several telephone discussions. On April 10, the woman, in a telephone conversation, told the art collector that she would pay $15,000 if the painting was delivered on or before April 15. The art collector agreed to deliver the painting for 15,000.OnApril15,theartcollectortenderedthepainting,butthewomanrefusedtopaymorethan10,000. If the art collector asserts a claim against the woman for breach of contract, which of the following is the most accurate statement?
Original LaTeX notation
An art collector attended a party on March 15. At the party, the art collector was describing his collection to a woman in attendance. When the art collector described a painting by a well-known artist, the woman indicated she might like to buy that painting. The art collector said, "I'll sell you the painting for $10,000. I'll give you 30 days to decide whether you want the painting. " On March 25, the art collector wrote to the woman and stated that the offer of March 15 was withdrawn. The woman received the March 25 letter on March 26. On March 27, the woman wrote the art collector the following letter:"Please be advised that I hereby accept your offer of March 15. " The art collector received this letter on March28. Thereafter, the art collector and the woman engaged in several telephone discussions. On April 10, the woman, in a telephone conversation, told the art collector that she would pay $15,000 if the painting was delivered on or before April 15. The art collector agreed to deliver the painting for $15,000. On April 15, the art collector tendered the painting, but the woman refused to pay more than $10,000. If the art collector asserts a claim against the woman for breach of contract, which of the following is the most accurate statement?

choices

  1. The art collector is obligated to sell the woman the painting for $10,000, because the woman, as offeree, had the right to accept the initial offer within the 30-day period.
  2. Since the art collector, as offeror, had the power to revoke the original offer before acceptance, the woman is obligated under the terms of their April 10 agreement.
  3. Since the parties entered into a subsequent modification, the woman is obligated to pay the art collector $15,000 for the painting.
  4. An enforceable contract does not exist between the parties, because of mutual mistake of fact.

subject

professional_law

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Source and history

task_id
4a2f6bad-5ef3-5292-9667-48a1a78747be
task_key
all--test--4a2f6bad-5ef3-5292-9667-48a1a78747be
task_revision_id
1
config / split
all / test

Official source

initial import