Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In the contract of sale of Jones' house to Greenwood, no particular method of payment was specified. Greenwood's lawyer has heard rumours that Jones got

image text in transcribed

In the contract of sale of Jones' house to Greenwood, no particular method of payment was specified. Greenwood's lawyer has heard rumours that Jones got a much better offer after he signed the deal with Greenwood, and, from the attitude displayed by Jones recently, Greenwood's lawyer thinks Jones may be hoping the deal will fall through. Greenwood ... should make sure he has cash for the full amount on the date of closing need not worry about how payment is made since, as long as it is the exact amount, Jones cannot legally refuse any mode of tender, provided that the contract did not stipulate a particular mode. should make sure that, if he has a personal cheque for the full amount, it is accompanied by a banker's letter guaranteeing the funds are there. should make sure he has a certified cheque for the full amount on the date of closing

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting What The Numbers Mean

Authors: David Marshall

13th Edition

1264126743, 9781264126743

More Books

Students also viewed these Accounting questions

Question

Did I overlook any information that would be helpful in the future?

Answered: 1 week ago

Question

8. What are the costs of collecting the information?

Answered: 1 week ago

Question

1. Build trust and share information with others.

Answered: 1 week ago