An Agreement for the Purchase and Sale of Property Included

question 106

Multiple Choice

An agreement for the purchase and sale of property included the following words: "Subject to the purchaser obtaining satisfactory financing by 5 p.m. on Friday, February 22, 2016." If the court held that this subject-to clause was so vague that "the entire contract was void for uncertainty," this would mean that

• A) the contract was in existence but could not be enforced.
• B) the contract was in existence but one party has the right to repudiate the contract.
• C) the contract was never in existence.
• D) the contract is in existence but the court will not do anything to help the parties.
• E) the court will impose a reasonable alternative for the term in question.

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Definitions:

Tax Deductible

Expenses that can be subtracted from one's gross income, reducing taxable income and the amount of tax owed.

Hand Gestures

Movements of the hands and arms used to convey ideas or messages, often accompanying speech or as a form of non-verbal communication.

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An outlook that focuses on the good in situations or expectations of positive outcomes.

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