Question
Jenny made an offer to purchase the house for $2.1 million. The offer was accepted on March 1st, and the deal was supposed to close
Jenny made an offer to purchase the house for $2.1 million. The offer was accepted on March 1st, and the deal was supposed to close on April 15th . The parties have a written purchase agreement for the property. Early last week Jenny heard from the owners saying they are no longer willing to sell to Jenny. They are having a child and think that the home is the perfect place to raise it. Jenny is obviously very upset about this. She spent the rest of last week looking for another property as close to that one as possible. The only other home for sale in the area is twice as far from the golf course and does not have a view of the bridge. It would cost Jenny $2.4 million to purchase that other home. Jenny would like to know what she can do about this. She has the following questions:
1. Can she bring a claim to force the vendors to complete the sale of the river value property to her? If so, how would we characterize that claim and the remedy that she is seeking from the Court?
2. If she can bring a claim to force the sale, what can we tell her about the likelihood of her being successful on that claim? Is that a remedy the Court typically provides?
3. If she can bring a claim to force the sale, what will Jenny have to prove in order to maximize her chances of success?
4. If Jenny is unable to bring a claim to force the sale, or if that claim does not succeed, is there another claim that she can bring? If so:
a. How would the other remedy be characterized?
b. How would you calculate the amount of that remedy? What is the basis for that calculation? How much would you sue for in this case?
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