Answered step-by-stepThe following exchanges occurred via fax: Buyer 1 on Day 1...
The following exchanges occurred via fax:
Buyer 1 on Day 1 says to Seller: I offer to purchase Blackacre for $350,000
Seller on Day 2 says to Buyer 1: I will sell Blackacre for $375,000
Buyer 2 on Day 3 says to Seller: I will buy Blackacre for $380,,000
Seller on Day 3 (later) says to Buyer 2: I accept your offer to buy Blackacre for $380,000
Buyer 1 on Day 3 (even later) says to Seller: I accept your counter-offer to sell Blackacre for $375,000
With whom (if anyone) does Seller have an enforceable contract? And, assuming there is a lawsuit filed against Seller, what (is)(are) the likely remed(y)(ies) that a court is likely to award and to whom?
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