Question
In approximately 150-300 words (in your own words), please respond to ONE of the following prompts--whichever one you prefer (if you choose to do the
In approximately 150-300 words (in your own words), please respond toONEof the following prompts--whichever one you prefer (if you choose to do the first prompt. Sandy Cowden inherited $700,000 from her grandfather. Reginald LaRocco is a local businessmanwho operates an almond ranch and is an insurance salesperson. He owns several land parcels in thelocal community and wants to sell some of this land to Sandy. He convinces Sandy to buyRiveracres, Reginald's ranch on the outskirts of town. Reginald tells Sandy that there are 130 acreson the ranch. In fact there are only 90. Sandy has the ranch surveyed before buying and learns thatit has only 90 acres. Reginald tells Sandy that he paid $50,000 for the land 40 years earlier and it is worth 10 times that today. He actually only paid $25,000 for the land which he purchased 53 yearsago. He sells it to Sandy for $380,000 and three months later Sandy finds out a similar adjoining parcel sold for $210,000. Sandy wants to get out of the Riveracres contract. Will she be able to do so? Why or why not? Explain.
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