In a yacht sale, a first buyer is told, on November 20, that the owner would sell for $50,000 if paid by November 20. A second buyer alters, accepts later for $60,000. The owner then sells to the second buyer. Can the first buyer sue for breach?

• A. Yes, because the owner’s offer to the first buyer remained outstanding on November 20.
• B. Yes, because the first buyer obtained a loan.
• C. No, because the second offer superseded the first.
• D. No, because the first buyer did not accept by the deadline.

Answer: (A)

The key idea is that a time-limited offer stays alive for the period stated and can be accepted only within that window; the offer isn’t ended simply because someone else later makes a higher deal. Here, the owner said he would sell for 50,000 if paid by November 20, so that offer remained open for acceptance through November 20. If the first buyer had accepted the offer by paying by that deadline, a contract would have formed. Selling to a second buyer after that date does not cure or nullify the first offer that was still available to be accepted on November 20. Therefore, the first buyer can argue that the owner breached the open offer by selling to someone else rather than keeping the offer available to him for the required payment by the deadline.