Robert agrees to purchase Albert's home, provided Robert can obtain financing at an acceptable interest rate.
Part A: Assume that Robert cannot obtain financing at an acceptable interest rate. Discuss the rights and responsibilities of the parties.
Part B: Assume that Robert does obtain acceptable financing for the purchase of Albert's home. After Robert obtains financing, but before the deal closes, Albert's home is destroyed by fire. Discuss the rights and responsibilities of the parties.

Answer rating: 100% (QA)

Part A If Robert cannot obtain financing at an acceptable interest rate he would be unable to purcha... View the full answer