Sue Had a Beautiful Lakeside Cottage That Had Been in Her

question 89

Multiple Choice

Sue had a beautiful lakeside cottage that had been in her family for years. Times became a little tight, and Sue decided she had no choice but to sell the property. Sue agreed to sell the cottage property to her neighbour Bob for the sum of $250,000. Although Sue was ecstatic about the price early on, she soon changed her mind. There were too many memories for her to give the property up. Which of the following, by itself, would be the biggest barrier to Bob enforcing the agreement?

• A) The $250,000 price was not adequate, under the circumstances.
• B) No money had yet exchanged hands.
• C) Although Sue had written a letter to Bob that discussed the essential terms of the agreement, Bob and Sue had not executed a written agreement.
• D) Bob and Sue had an agreement that their contract was not to be enforceable.
• E) Unknown to Bob, at the time of the agreement Sue was mentally incapacitated.

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Definitions:

Subdivision

The act of dividing land into plots or pieces that may be developed, sold, or otherwise used separately.

Statute of Frauds

A legal principle requiring certain types of contracts, such as those involving land, to be in writing and signed by all parties to be enforceable.

Exceptional Coverage

Special or unusual insurance coverage that goes beyond the standard policy, catering to specific or extraordinary needs.

Adjuster

A professional who investigates insurance claims to determine the extent of the insurer's liability.