MrGoode,a Neighbour of Your Parents,offered to Sell You His House

question 72

Multiple Choice

Mr.Goode,a neighbour of your parents,offered to sell you his house for $200 000,a bit below market value.You are definitely interested but would like to see if your employment contract will be renewed and to check about financing.Mr.Goode says that he'll hold the offer open for you until May 1,2011.On these facts,which of the following is false?

• A) Mr. Goode will be bound to hold it open if you pay him and he accepts some money to hold it open until that date.
• B) Mr. Goode will be bound to hold it open if you offer and he accepts your offer to wash his car every Saturday morning for two months in exchange for his promise to hold it open.
• C) Mr. Goode will be bound to hold it open until that date if his promise to do so was written and under seal.
• D) Mr. Goode's promise to hold it open is sufficient; the offer is safe until May 1, 2011, when it will expire.
• E) If you buy an option to buy a house, you still don't have to buy the house.

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Definitions:

Jail

Jail is a facility authorized to hold people temporarily for trial, awaiting sentencing after conviction, or for minor offenses, as opposed to prison for longer sentences.

Cohabitation

Cohabitation is the state of living together in a romantic relationship without being legally married.

Trial Marriage Cohabitation

An arrangement where two people live together to test their compatibility as a couple before deciding to get married.

Premarital Cohabitation

The act of living together in a romantic relationship without being married, prior to marriage.