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Case

Respond to the following case using the IRAC format as described in the IRAC Handout. The document should be typed in a Word document $($or rich text format$)$ and uploaded to the Assignments page of the course as described in the syllabus.

Fox Brothers Enterprises, Inc., agreed to convey to Canfield a lot, Lot $23,$ in a subdivision known as Fox Estates, together with a one$-$year option to purchase Lot $24.$ The agreement did not contain any prohibitions, restrictions, or limitations against assignments. Canfield paid the price of $$20,000$ and took tille to Lot $23.$ Thereafter, Canfield assigned his option right in Lot $24$ to the Scotts. When the Scotts tied to exercise their right to the option, Fox Brothers refused to convey the property to them. The Scotts then brought a suit for specific performance. What do you think the result was? Why? $[$Seot $v$ Fox Brothers Enterprises, Inc., $667$ P$\mathrm{.}2$d $773($Colo$.$App. $1983)].$