Question: Question 1 & Explain Answer Please Fred is the holder of a right of first refusal on a piece of property. The owner has decided

Question 1 & Explain Answer Please

Fred is the holder of a right of first refusal on a piece of property. The owner has decided not to sell. What action may Fred take?

A - As the owner is in breach of contract, Fred could petition the court for liquidated damages. B - Fred has no recourse but to wait as the owner is under no obligation to sell the property. C - The owner could sue Fred for breach of contract and force specific performance. D - Fred could sue the owner for breach of contract and force specific performance.

Question 2

Which of the following situations automatically terminates an offer to purchase real estate?

A - the impending death of the offeror or offeree B - acceptance of the offer by the offeree C - revocation by the offeror after being notified of the offeree's acceptance D - failure to accept the offer within the time stated therein by the offeree

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