BUSINESS LAW Murray is a fourth generation antique collector. His family immigra
ID: 469543 • Letter: B
Question
BUSINESS LAW
Murray is a fourth generation antique collector. His family immigrated to the Americas during the Irish Potato Famine and put aside every penny earned towards finding and buying Celtic collectables. Murray was on a trip to Cape Breton last summer when he wandered into an antique store and saw a rare Celtic stein on the shelf next to a bunch of other less notable ceramic wares. The only person in the store was a teenage summer clerk who looked like he would prefer to be hiking the Cabot Trail that sunny Wednesday afternoon. Murray picked up the stein and examined it, barely able to contain his excitement at the find. The clerk looked up lazily at Murray and said “five dollars” and promptly went back to his magazine. Murray’s hand was shaky as he paid the clerk and hurried out of the store. A few weeks later, Murray put the stein on an online auction site and sold it to collector in Colorado for $3.3 million.
Do you think there was a valid contract between Murray and the store? Does the store owner have any claim to part of Murray’s new fortune? Is there any possibility that the Colorado collector would not be able to keep the stein?
Explanation / Answer
In my opinion,there was no such valid contract between the store and Murray.A valid contrat is either a written or an expressed contract.Here no written or expression or promise has occured between the two parties and hence there is no valid contract.
If the store owner gets to know of this incident,he can demand a claim from Murray based on certain blackmailing and threats and proof of this incident.
Yes,the possbility of this can happen only when the store owner jumps in the whole matter of the happening of the case and only if he the owner is able to proove the fraud.
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