Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

14. Bob and Sue have a contract where Bob agrees to buy, and Sue agrees to sell, her house for $500,000. For no reason, Sue

14.Bob and Sue have a contract where Bob agrees to buy, and Sue agrees to sell, her house for $500,000. For no reason, Sue decides three minutes before the scheduled closing that she does not want to go through with the sale. Answer the following questions about these facts:

(a)Can Bob force Sue to sell? If so, what kind of remedy is this forced sale called?

(b)Assume that the contract says that in the event of a breach by other side, damages shall be set at $10,000.00. What can Bob do now? What kind of remedy is this?

(c)If Bob wanted the House because he planned on reselling it for a million dollar profit (Sue didn't know), could he then sue Sue for his lost profits? What are those lost profits called?Are they recoverable?Describe in detail.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Elliott And Quinns Tort Law

Authors: Frances Quinn

12th Edition

1292251441, 978-1292251448

More Books

Students also viewed these Law questions