In Early 2017, Wanda Paid $33,000 for an Option on a Parcel

question 103

Essay

In early 2017, Wanda paid $33,000 for an option on a parcel of land she intended to hold as an investment. After a survey of the land (paid for by the grantor) determined that the parcel was much smaller than the grantor said it was, she let the option lapse when it expired in 2018 after 14 months. How should Wanda treat these events in 2017?2018?

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Definitions:

Recommendation

An advice or suggestion given by someone with knowledge or expertise on a certain matter.

Obligation

A duty or commitment that an individual is required or morally compelled to fulfill.

Indirect Approach

A communication technique in which the main point or message is presented after providing background information and supporting details.

Disrespectful

Showing a lack of respect or courtesy; impolite or rude behavior or speech.