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Same facts as Question # 9 4 . Adam is unable to close the deal with Quinn and purchase her property. However, Adam learns the
Same facts as Question # Adam is unable to close the deal with Quinn and purchase her property. However, Adam learns the property on the other side of Paul's Bar and Grill, which is owned by Rob, is about to hit the market. Adam, having to act quickly, is able to arrange a purchase price of Rob's property which is below fair market value. Adam enters into a purchase
contract with Rob for the purchase of the property. Explain how each party would be liable to the other parties in the transaction given the information in each of the following situations.
A Paul is thrilled with Adam's actions and wants to follow through with the purchase of Rob's property as contracted.
B Paul's plans for expansion will not work with Rob's property for reasons which Adam was not aware and Paul does not want to go through with the purchase of Rob's property.
C Before Adam can tell Paul he has contracted to buy Rob's property, Rob tells Adam he has received a better offer on the property and is going to cancel the sell to Adam.
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