In Lucy V Zehmer (The "Seller" Claimed That the Offer to Sell

question 15

Multiple Choice

In Lucy v. Zehmer (the "seller" claimed that the offer to sell the land was a joke) , the court held that

• A) the contract was unenforceable because the seller "was high as a Georgia pine" when he made the offer.
• B) the contract was unenforceable because it had not been delivered to the "buyer."
• C) the contract was binding and the "buyer" was entitled to specific performance.
• D) the "seller" had revoked the offer before the "buyer" accepted it.

---

Definitions:

Semi-Annually Compounded

Interest on an investment or loan that is calculated and added to the principal balance twice a year.

Quarterly Compounded

Interest is added to the principal every three months, with subsequent interest calculations based on the resulting total.

GIC

A Guaranteed Investment Certificate (GIC) is a type of Canadian investment that offers a guaranteed return over a fixed period.

Monthly Compounded

Interest on an investment or loan is calculated monthly and added to the principal, allowing the interest to earn interest in subsequent months.