Tinh Agrees to Purchase a Block of Land That Ed

question 15

Essay

Tinh agrees to purchase a block of land that Ed plans to sever from his property. Tinh pays a large cash deposit to Ed, the closing date is set for six months away, and they shake hands on the deal. Ed falls on hard times and he realizes he cannot subdivide his land since he cannot afford to lose any equity or the bank will foreclose on his mortgage. On the agreed closing date, he sends Tinh an email to back out of the deal. Worse still, Ed reallocated the cash deposit and cannot afford to pay Tinh back. Ed feels terrible and avoids Tinh's calls. Tinh sues Ed for breach of contract and specific performance. How will the Statute of Frauds be applied in this case? What is the legal effect of Tinh and Ed's deal?

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Definitions:

Legislative Body

A group of individuals with the authority to make laws for a political entity such as a country or city.

Agency Representation

A form of representation in which elected officials serve as agents of their constituents, acting in the constituents' interest rather than their own personal interest.

Pork Barrel

Refers to the allocation of government spending for localized projects secured primarily to bring money to a representative's district.

Senator Term

The period during which an individual serves as a senator, typically six years in the United States Senate, after which they may seek re-election.