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Bart owned 100 shares of a stock that was actively traded on a national stock exchange. Bart wanted to sell the shares but felt that his profit would be seriously diminished by selling through a broker and paying the customary brokerage commission. Bart offered the 100 shares to any of a group pf 6 people in a conversation at a party. The offered price was $72.50 per share, the price at which the shares had closed that day. No one really responded to that offer at that time. Ten days later when the shares were trading at $76.25, Marie, one of the offerees at the party appeared at Bart’s office saying that she accepted the offer. Bart claimed the offer was no longer available. Is he correct? Please explain your answers with appropriate, relevant case law citations.
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