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15. If the broker moves to dismiss the hoarder's complaint, which of the following is the broker's best argument in support of the motion?
Having received the broker's message on October 17, the hoarder sued the broker on November 15 for the market value of a comparable replacement-coin as promised by the broker in February. The trial began on December 1.
On October 1, the market price of rare coins suddenly began a rapid, sustained rise; and on October 15 the hoarder wrote the broker for assurance that the latter would timely meet his coin-replacement commitment. The broker replied, «In view of the surprising market, it seems unfair that I should have to replace your coin within the next few weeks.»
A broker needed a certain rare coin to complete a set that he had contracted to assemble and sell to a collector. On February 1, the broker obtained such a coin from a hoarder in exchange for $1,000 and the broker's signed, written promise to re-deliver to the hoarder «not later than December 31 this year» a comparable specimen of the same kind of coin without charge to the hoarder. On February 2, the broker consummated sale of the complete set to the collector.
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B is incorrect. The fact that the coin has a market price suggests that it is not sufficiently unique to award specific performance.
C is incorrect. Ordinarily a shift in market price is not a sufficient basis for a party to be excused from his contractual obligation on grounds of impracticability.
D is incorrect. A repudiation, although retractable, entitles the non-repudiating party to pursue a remedy for total breach of contract.