Erma Enters into a Contract to Buy a Tract of Riverfront

question 49

Multiple Choice

Erma enters into a contract to buy a tract of riverfront 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:

Perceived Distance

The subjective estimation or impression of how far away an object or destination appears to be.

Retinal Image

The image produced by light rays hitting the retina, the light-sensitive surface at the back of the eye, allowing for vision.

Retinal Images

The visual representations formed on the retina, the light-sensitive layer at the back of the eye, as light from the environment is focused.

Perceived Distance

The subjective experience or estimation of the space between two or more points.