Question
Dee owns an automobile repair business. he also owns the land on which the business operates. Dorion has worked for Dee as a mechanic. Dee
Dee owns an automobile repair business. he also owns the land on which the business operates. Dorion has worked for Dee as a mechanic. Dee is interested in retiring and suggests Dorion buy the business as an ongoing operation. Dee offers to sell got $100,000. Dorion says he doesnt have that kind of money or credit to get him that money/loan. Dee says that is not a problem. if Dorion ca raise 25,000, Dee will give him a mortgage on the garage property for 75,000 at a very low interest rate. Dorion agrees to this proposal provided, he says, that he can raise the 25,000 down payment. Dee says thats fine. the agreement is entirely oral. Dorion raises 25,000 and pays it to Dee. before he can make the first mortgage payment, Dee dies. Dees executors find out about these arrangements but refuse to honor them. claiming there was no enforceable contract. assess the likelihood that the executors will be able to resist Dorion's claim.
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