Problem: You and all of your family members decide you want to buy your mother a really nice gift for Mother's Day (May 14), and you decide on a specific Rolex watch, entering into a purchase contract with a store to deliver the specific watch to your house on May 14 in a beautiful box with a large bow on it. Price: $10,000. On May 1 the store contacts you and tells you that they will not be able to supply the specific watch on May 14. They are out of stock. Sorry! You have no other gifts for Mom and she has wanted this particular watch for as long as you can remember.
Legally, what is this situation called? Be specific.
Legally, what are you entitled to do, and when could you do it?
In reality, what are you actually likely to do?
Might you be entitled to damages here?
If so, how much?