The Impact of the UETA
John advertised a rare guitar for sale on a public web site, listing the price as $700.
Mike, a potential buyer, contacted John via e-mail and they discussed the guitar's condition, price, and history for several days. In their most recent e-mail exchange, John insisted that Mike agree to buy the guitar. He told Mike that there were other potential buyers and that John could not wait any longer to sell. Mike responded, "Consider it done." Based upon Mike's response, John informed all other interested buyers that the guitar had been sold.
When John e-mailed Mike and asked when he would pay for and pick up the guitar, Mike told John that he did not want the guitar and besides, Mike had not signed or agreed to anything. Is Mike obligated to pay for the guitar?
Research this issue and then be sure to:
Discuss the UETA provisions concerning the meaning of records and signatures.
Discuss whether the above facts place this issue within the jurisdiction of the UETA.