When Gordon Told Hanson That He Was Considering Selling His

question 33

Essay

When Gordon told Hanson that he was considering selling his house, Hanson offered to buy it. Gordon and Hanson entered into a contract in which Hanson paid Gordon $1,000 in cash for the right to buy Gordon's house for $150,000 in the event Gordon decided to sell it. Two weeks later, Jones offered Gordon $200,000 for his house, and Gordon agreed to sell it to her for that amount. Hanson sued Gordon to force Gordon to sell the house to him for $150,000, rather than to Jones for $200,000. Identify the probable result of the action. What type of contract, if any, was entered into between Gordon and Hanson?

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Definitions:

Decent Housing

Housing that is safe, affordable, and appropriate for the residents, meeting basic living standards.

Densely Populated

An area characterized by a high concentration of people living in a given spatial or geographical unit.

Great Depression

A severe worldwide economic downturn that took place during the 1930s.

Gender Roles

Socially constructed roles, behaviors, activities, and attributes that a given society considers appropriate for men and women.