Suzy Anders Enters into an Oral Contract to Purchase a Tract

question 28

Essay

Suzy Anders enters into an oral contract to purchase a tract of land from Bill Hermes. The land is considered worthless, but Anders feels that she has discovered a possible usage that would drastically increase the value of the land. To assure herself of the potential value of the land, Anders orally hires an attorney to investigate the title and records associated with the land in question. Before gaining any information from her attorney, Anders orally contracts with a builder to construct a huge building on the site. Because of the size of the project, a completion time is difficult to predict. Anders now discovers that the land is indeed useless, a fact that she obtains through information from her attorney.?Anders now refuses to honor her contracts with Hermes, her attorney, and the builder. Must Anders honor her contractual agreements?

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Definitions:

Advocacy Advertising

A form of advertising that focuses on promoting a particular cause, idea, or viewpoint, often used by non-profit organizations or groups looking to influence public opinion or policy.

Institutional

Relating to an organization, especially large ones like governments, schools, or banks.

Corporate

Relating to a large company or group, often characterized by a complex structure and management processes.

Institutional Advertising

Advertising aimed at creating a positive image of an organization or company as a whole, rather than promoting individual products or services.