Peter owns a construction business. He needs a truck to transport building materials. Each truck he uses earns him profit...

Peter owns a construction business. He needs a truck to transport building materials. Each truck he uses earns him profit of $ 10 000 per week. Peter contacts Wendy, who owns a fleet of trucks. They have several telephone discussions about a Mercedes Benz 5000 truck that Peter is interested in buying. During one of these discussions, Peter asks Wendy whether the truck has a heavy duty suspension, explaining that he needs to transport bags of concrete to construction projects in rural areas. Wendy says that it does, without checking its specifications. Peter posts Wendy a letter containing a contract in which he offers to buy the truck for $ 300 000. The contract reaches Wendy on 5 November. She signs the contract at the space indicated for acceptance, and puts the acceptance into the post on 7 November. On 8 November, Peter phones Wendy and says “I haven’t heard from you and I’ve had second thoughts, so I am revoking my offer to buy the truck”. Wendy says “Too late, I’m delivering it today”. Later that day, she delivers the truck to Peter’s premises. Peter notices that the truck does not have heavy-duty suspension, and refuses to pay for it. Wendy’s letter of acceptance reaches Peter only on 10 November. Wendy has now sued Peter for $ 300 000. Because it is a busy time of year for the trucking industry, it takes Peter two weeks to find another truck to use for his business. Advise Peter as to his legal position, examining all relevant legal issues that could arise from these facts.