An Agreement for the Purchase and Sale of Property Included

question 4

Multiple Choice

An agreement for the purchase and sale of property included the following words: "Subject to the purchaser obtaining satisfactory financing by 5 p.m.on Friday,February 22,2011." If the court held that this subject to clause was so vague that "the entire contract was void for uncertainty," this would mean that

• A) the contract was in existence but could not be enforced.
• B) the contract was in existence but one party has the right to repudiate the contract.
• C) the contract was never in existence.
• D) the contract is in existence but the court will not do anything to help the parties.
• E) the court will impose a reasonable alternative for the term in question.

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