Lance and Avery have known each other for many years. Lance has always admired Avery's lake house
Question:
Lance and Avery have known each other for many years. Lance has always admired Avery's lake house in the Canaan, New York, and has asked Avery several times over the years to sell him the lake house. One night, as the old two friends enjoyed dinner together, Lance asked Avery again to sell him the house. Avery laughed and said: "you will never quit, won't you? Fine, you can buy the house. Two million dollars." Lance, who couldn't believe his good luck, asked "Really? Do you agree to sell your lake house, furnished, for two million dollars? My daughter is getting married in six months, and it would be a perfect place for the wedding. She has always loved that home and it would be a dream to get married there!" Avery smiled and replied: "Yes. The price is fair, and your daughter can have a dream wedding there! We can sign the contract when I'm back from my vacation next month." Lance was thrilled. The following day, he began making arrangements for his daughter's wedding at the lake house. He contracted with a catering service, a designer, and a construction specialist to prepare the ground and the house for the big day. He contacted a lawyer and a detailed sales contract was ready for Avery to sign when she got back. When Avery got back, however, she told Lance she has decided not to sell the lake house and that unfortunately, his daughter could not have her wedding at the lake house.
Lance is furious and turns for you for legal advice to protect his rights. He mentions that he recorded the conversation. One-way recording is legal in New York.
What is your legal advice to Lance?
Modern Advanced Accounting In Canada
ISBN: 9781259066481
7th Edition
Authors: Hilton Murray, Herauf Darrell