Problem
Amir wanted to sell his motorcycle. On Tuesday morning, Amir left home at around 8 am and then met Bo while jogging in the park, and in the course of conversation, mentioned that he had a motorcycle for sale. Bo was familiar with Amir's motorcycle and offered to purchase it for $4,000. Amir accepted the offer. It was about 10:30 in the morning. Amir and Bo walked to Amir's home to get the motorcycle. When they reached Amir's house, they were told by Amir's mother that the motorcycle had been stolen at about 8:30 am and was subsequently found by the police in a badly damaged and burned condition in a nearby parking lot. Amir told Bo that Bo was bound in contract and must purchase the motorcycle even though it was badly damaged. Amir said: "A deal is a deal." Discuss the rights and duties of the parties. Define or explain any legal terms and concepts that you use.