Russ owned a ranch in South Dakota. Russ' uncle, Edward, held a two-year option to buy the ranch from Russ. The option included specific conditions. For instance, once the option was exercised, the parties had thirty days to enter into a purchase agreement and the seller could become the buyer’s lender by matching the terms of the proposed financing. After the option was exercised, Russ and Edward engaged in lengthy negotiations. Edward, however, did not respond to Russ' proposed purchase agreement, nor did Edward advise him of available financing terms before the option expired. Six months later, Edward filed a suit against Russ to enforce the option. Is Edward entitled to specific performance as a remedy in this case? Does he have any remedy at all? Explain.

Answer rating: 100% (QA)

In accordance with the United Stated Contract Law peformance must form an integral part of the contr... View the full answer