On February 1, Zhang contracted to buy Sorichettis house and some furnishings. On February 3, Sorchetti told
Question:
On February 1, Zhang contracted to buy Sorichetti’s house and some furnishings. On February 3, Sorchetti told Zhang that he was terminating the sale in order to stay in the house a little longer. Sorchetti, a former real estate agent, said the state law allowed rescission within three days of contracting. This was not correct. He said he would sell if Zhang paid him more, and Zhang agreed. The closing date was April, and the price was $35,000 more. On February 16, Sorichetti told Zhang that a murder had occurred in the house several years earlier, and that Zhang could cancel the contract if she wished. She did not, and when Sorichetti refused to carry out the contract, she sued. Can Zhang get the house at the original price? Explain why.
Step by Step Answer:
Law for Business
ISBN: 978-1259722325
13th edition
Authors: A. James Barnes, Terry M. Dworkin, Eric L. Richards