Landowner sold an option to purchase land for $750,000 to Developer for one year. The option required Developer to pay $5,000 per month (due on the 1st day of each month) to Landowner to maintain the option. After making two timely payments, Developer mailed a check for the third month's payment on the 25th, but it was not received by Landowner until the 2nd. Landowner rejected the payment, and contracted to sell the land to Hotel Corp. for $1,500,000. If Developer sues to enforce the option and purchase the land for $750,000:

Question 4 options:

a)

Developer will be able to argue for relief from forfeiture because the forfeiture is extreme.

b)

Developer will be able to argue for relief from forfeiture under the objective test.

c)

Developer will be able to argue for relief from forfeiture based on waiver.

d)

Both a and b.