Assume you are tasked with reviewing the attached contract. You work for Gozo Holdings, LLC ("Gozo") a company that manufactures and sells specialty adhesive products. Gozo sells its products throughout North America from its factory in New Brunswick County, North Carolina. Ten years, as Gozo was considering building an additional manufacturing facility it purchased several undeveloped parcels of real estate in Southern North Carolina. It ultimately decided to build a new facility in a Southwest Louisiana, but has retained the parcels it purchased in Southern North Carolina, including an 80-acre parcel commonly known as Valetta Grove, in New Brunswick County.

Gozo Holdings, LLC is approached by a local real estate investor, Elizabeth Danby (Danby), who wants to purchase Valetta Grove. Gozo and Danby agree on a price of $1,250,000 for the parcel. Danby does not currently have sufficient cash to purchase the parcel but tells Gozo that she is working with two of the local banks to finance the purchase of the property. Gozo's comptroller searched for a contract on the internet, found a form agreement, and made some modifications to it to adapt it to the contract between Gozo and Danby. The attached Real Estate Sale and Purchase Agreement in the Learn section of Module 6: Week 6 is the document he prepared and sent to Danby via first class mail.

You have been asked to review the Real Estate Sale and Purchase Agreement. I need help creating a memo regarding the laws involved.