Chernek, operating a sole proprietorship, has a large piece of used farm equipment for sale. He offers to sell the equipment to Bollow for $10,000. Discuss the legal effects of the following events on the offer.
1. Chernek dies prior to Bollow’s acceptance. At the time she accepts, Bollow is unaware of Chernek’s death.
2. Bollow pays $100 for a thirty-day option to purchase the farm equipment. During this period, Chernek dies. Later, Bollow accepts the offer, knowing of Chernek’s death.
3. Bollow pays $100 for a thirty-day option to purchase the equipment. During this period, Bollow dies. Bollow’s estate accepts Chernek’s offer within the stipulated time period.
