Question $15$

Bill owns a large tract of land that is worth approximately $$4,000$ per acre but will be worth

much more if a proposed highway is built nearby. Sarah is willing to pay $$12,000$ per acre if

the highway plans are finalized within sin months, but if the decision to build the highway is

postponed or rejected, she will have no use for the property. What type of contract would be

most appropriate from Sarah's perspective?

Escrow arrangement

Right of first refusal or an option to Buy

Earnest money contract