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?

---

Definitions:

Companies

Legal entities established to engage in business activities, ranging from small enterprises to multinational corporations, recognized by law as having rights and responsibilities.

Current

Pertaining to the present time or most recent.

Lamp Shades

Covers used to diffuse the light from a lamp, often decorative and used to control the lighting ambiance of a room.

Exchange

A process by which two parties come to a mutual agreement to trade goods, services, or information.