2. Looking to buy a discounted thoroughbred horse for his granddaughter Sofia, J

Question

2. Looking to buy a discounted thoroughbred horse for his granddaughter Sofia, Joe Quincy,a businessman, approaches a thoroughbred breeder named Larry Equine at his country estate. Equine takes Quincy to a pasture where older horses are kept. Equine states that these horses are likely too old to breed or race and are no longer very valuable, so he would sell them at a discount. After Sofia falls in love with a mare named Bessie, Quincy goes home to mull over the decision, and has two alcoholic drinks. The next day, he decides to go ahead with the sale, writes up a contract of sale with Equine for the purchase of the horse for $1,000, with delivery to be next week, and gives him a check for the full amount. Equine signs the contract and accepts the check. However, three days later, Quincy receives a letter from Equine telling him that he is no longer willing go through with the contract, that he is returning his check, and is welcome to come by and select another horse. The reason he gives is because he has just discovered that Bessie is in fact pregnant. That fact that she is both able to breed and pregnant drastically changes the value of the mare to over $20,000. Quincy writes back and objects asserting that they had a valid contract for the purchase of Bessie and demands immediate delivery to

Explanation / Answer

Quincy's lawyer will make the following arguments:-

1. The contract is very clear about the value of the horse. Both the parties should honor the contract.

2. At the time of signing the contract, Equine should have known that the mare was pregnant. Ignorance is not bliss in law.

3. Equine is the seller and he should know all the details of the products (horses) he is selling.

4. There was an intention to sell the horse as the seller had signed the contract.

5. Both the parties had contractual capacity.

6. Check is sent by the buyer and accepted by the seller.

Equine's lawyer would make the following arguments:

1. There was an unknown condition that the mare was pregnant and that's why the contract is invalid.

2. There was a fine print in the contract about the pregnancy of the mare.

My ruling as a Judge in this case would be in favor of Quincy because his lawyer's arguments are stronger than that of Equine's lawyer.

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