Aretta J. Parkinson owned a 200-acre farm. Prior to her death on December 23,Parkinson deeded a one-eighth
Question:
Aretta J. Parkinson owned a 200-acre farm. Prior to her death on December 23,Parkinson deeded a one-eighth undivided interest in the farm to each of her eight children as tenants in common. On January 15 of the following year, one of the daughters, Roma Funk, approached Barbara Bradshaw about selling the Parkinson farm. They orally agreed to a selling price of $33,000. After this meeting, Funk contacted Bryant Hansen, a real estate broker, to assist her in completing the transaction. Hansen prepared an earnest money agreement that was signed by the Bradshaws but by none of the Parkinson children. Hansen also prepared warranty deeds, which were signed by three of the children. Several of the children subsequently refused to convey their interests in the farm to the Bradshaws. The Bradshaws brought an action against the defendants, seeking specific performance of the oral contract of sale, arguing that the defendants ratified the oral contract by their knowledge of and failure to repudiate it.. Decision?
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Essentials of Business Law and the Legal Environment
ISBN: 978-0324303957
9th edition
Authors: Richard A. Mann, Barry S. Roberts