On his way home from work one day, Bill Bridges stopped to take a look at a house for sale. The owner of the house, Sarah Silver, was not home. However, her daughter (Dolly Silver) gave Bill a tour of the house. After the tour, Bill and Dolly sat down and wrote an agreement for the sale of the house to Bill. The handwritten agreement that they both signed was dated April 22, 2021 and included three paragraphs as follows:

Immediately after leaving the house with the signed agreement, Bill comes to you for advice. Specifically, Bill has the following questions: (1) Is the handwritten agreement he signed with Sarah a binding contract? (2) Even if the handwritten agreement is a binding contract, what legal and or logistical problems do you see with this agreement?