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

question 124

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 check on financing.Mr.Goode says that he'll hold the offer open for you until May 1.On these facts,which of the following is true?

• A)Mr.Goode will be bound to hold the offer open until May 1.
• B)Mr.Goode's promise to hold the offer open is sufficient; the offer is safe until May 1,when it will expire.
• C)Mr.Goode will be bound to hold the offer open indefinitely.
• D)If Mr.Goode sells the property to someone else before May 1 and informs you of that,you can still sue him.
• E)Mr.Goode will be bound to hold the offer open until May 1 if his promise to do so was written and under seal.

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Definitions:

Acceptable Behaviors

Actions or conduct considered appropriate or satisfactory within a social or work context.

Formal Statements

Official, explicit expressions or declarations, often written, regarding an organization's policies, objectives, or positions on issues.

Unacceptable Behaviors

Actions or conduct deemed inappropriate, offensive, or outside of agreed norms and values within a specific context.

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Flexible, adaptable corporate structures with a decentralized approach to management and open communication channels.