Question: Question number 5 : Sara is shown Olson's house which she likes but has to consult with the husband before she can make her final

Question number

5

Sara is shown Olson's house which she likes but has to consult with the husband before she can make her final mind. Sara and Olson make an option to contract whereby Olson promises to keep the house for Sara for one month ending January

31, 2012 .

The house was on offer for $

230, 000 .

On January

16

Olson got an irresistible offer from a rich corporation who after learning of the option to buy deal were willing to pay $

250, 000 .

Olson took the offer and quickly closed on the deal. Sara wrote a letter to Olson promising to take the house at $

230, 000

which letter reached Olson on January

28 .

She got not a very nice reply. Advise Sara.

Question number 5: Sara is shown Olson's house which she likes

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Scenario: A specific department within an organization has a high turnover rate; employees of this department have a shorter average tenure than those of other departments in the company. Skilled...

Question number 5 : Sara is shown Olson's house which she likes but has to consult with the husband before she can make her final mind. Sara and Olson make an option to contract whereby Olson...

James was discharged by MegaCorp. He received a letter from MegaCorp offering to pay him double the usual severance pay if he signed a document releasing MegaCorp from all claims he might have had....

Chapter 10 from Business Law and the Legal Environment was adapted by The Saylor Foundation under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 license without attribution as requested...

Berry v Berry 2018 Pa. Super. 276 (Pa. Super. Ct. 2018) Summary In Berry, this Court held that an incapacitated person cannot bring a divorce action without a court determination concerning his...

Debra wants to know if her sister can be her qualifying child.Which of the following is not a test to be a Qualifying Child? Select one: a. The child must be under age 19 at the end of the year or...

The following questions are based on the attached American Land Title Association (A.L.T.A.) Extended Coverage Commitment to Insure. This form has completed for this problem and is used with...

Please read chapter 8 and answer the questions and see the (guide to answer number 3) For each case study, you will view the material as the student's teacher, read the information provided and write...

Please read chapter 8 and answer the questions and see the ( guide to answer number 3) For each case study, you will view the material as the student's teacher, read the information provided and...

Wesleyan Economic Working Papers http://repec.wesleyan.edu/ No: 2012-006 Closing the Gender Gap: What Would It Take? Joyce P. Jacobsen January, 2012 Department of Economics Public Affairs Center 238...

The measure of a competent researcher is the ability to utilize the most sophisticated and adequate techniques and methods available within the limits of time, cost, and the present state of the art....

In December 2003, Bam (a city in Iran) was hit by an earthquake. Assume the death toll from the earthquake was 30666 people. The World Health Organization put out a report on the reconstruction of...

The exchange rate of Peso was 1 Peso = 0 . 1 $ last year. Which one of the following exchange rates today shows a depreciation of Peso against U . S . dollar over the year? 1 $ - 1 0 Peso 1 $ - 9...

Assume it is Monday, May 1, the first business day of the month, and you have just been hired as the accountant for Colo Company, which operates with monthly accounting periods. All of the companys...