On March 1^st, Sam Enters into an Offer to Purchase

question 43

Multiple Choice

On March 1^st, Sam enters into an offer to purchase with Geraldo to purchase his home. The closing date is June 15^th. On May 1^st, Sam discovers that the city is planning to re-zone the land next door as commercial. Sam is very unhappy and no longer wants the property. What legal/non-legal action might Sam take?

• A) Sam may bring an action against Geraldo for misrepresentation.
• B) Sam may fail to complete the transaction.
• C) Sam may notify Geraldo of an anticipatory breach.
• D) Sam may fail to complete the transaction of notify Gerald of an anticipatory breach.
• E) Sam may take any of these actions.

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Definitions:

Flexible

The trait of being able to adapt to changes and alter plans or strategies in response to new information or challenges.

Negotiating

Engaging in discussions with the goal of reaching an agreement.

Risks

Potential events or actions that may lead to loss or harm.

Strategy

A structured approach devised to tackle challenges and successfully meet targets or outcomes.