Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Lucy offers to sell commercial property to XYZ Group for $1 million. In January, XYZ pays Lucy $10,000 in exchange for her agreement to hold
Lucy offers to sell commercial property to XYZ Group for $1 million. In January, XYZ pays Lucy $10,000 in exchange for her agreement to hold the offer open for ten months. Lucy dies in February. Can XYZ still buy the property? Question 16 options: No, because death terminates contracts. No, because this was an option contract. Yes, they can buy any time because her offer is irrevocable Yes, because her offer is irrevocable but they can buy only within the ten-month period
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started