Erma Enters into a Contract to Buy a Tract of Lakefront

question 37

Multiple Choice

Erma enters into a contract to buy a tract of lakefront property from Forest Acres to build and sell a residential development. Forest Acres fails to close the sale. Erma's remedy is most likely

• A)the amount that Erma invested in the project to the date of the closing.
• B)nothing-Forest Acres still owns the land.
• C)the difference between the contract and market prices of the land.
• D)specific performance.

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Definitions:

Fleeting

Something that happens very quickly or lasts only a short time.

Encoded

Transformed into a coded form, often for the purpose of confidentiality, storage efficiency, or preparation for processing.

Parallel Processing

The brain's capability to process multiple information streams simultaneously, aiding in complex tasks like visual recognition.

Neural Networks

A series of algorithms that endeavor to recognize underlying relationships in a set of data through a process that mimics the way the human brain operates.