CoinLetter.com published a story on Jump Crypto and a 79 year old that owned the domain name Wormhole.com. The registrant owned since 1994.
It revived the debate on whether listing a price in an email and then backing out was a legal contract or not. 25 years later it still seems many are split or confused on whether it’s a binding contract.
Is an Email Legally Binding: Everything You Need to Know
Is an email legally binding? This is a question of concern to many who frequently deal with contracts or imagine that they soon will be, and the answer to this question is yes, emails will generally be considered by courts to be legally binding.
In 2021, the team at Jump reached out to Merryman via a 3rd party broker to offer a laughable $2500 for the domain name. A lowball even Gary Vee would be proud of.
Merryman, of course, declined the offer saying that the price is a “firm $50,000”.
Jump jumped (see what I did there?) at the chance and agreed to pay $50k.
After a few weeks, Dick M. refused to accept the $50k: “Nope, sorry, I changed my mind. This was too easy, I’m either leaving a lot of money on the table or it is a scam. Either way, no sale. If you want to make a reasonable offer, then you are encouraged to do so.”
Smelling blood in the water, Jump involved their legal team saying that Merryman was in breach of a contract and that he had to honor the $50k offer.
Interestingly the debate was spilt on Namepros whether the registrant was untrustworthy for not honoring a deal or that the firm was not of high moral fabric.
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