Question: Kate, a real estate developer, signs a contract to purchase a lake front property from Logan at $ 1 0 , 5 0 0 ,
Kate, a real estate developer, signs a contract to purchase a lake front property from Logan at $ for acres more or less. If she discovers one week before closing that the lot is actually only acres, would she most likely be able to rescind the contract?
Question options:
a yes, because even though this transaction appears to be "sale in gross" the deficiency of almost would be found too excessive by most courts.
b no because this transaction appears to be "saleingross" and deficiency would not be found sufficient to rescind the contract by most courts.
c no because classifying this transaction as "saleingross" as opposed to "sale per acre" has no bearing on the result.
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