business law

posted by .

1. Meyer, after seeing a sign on Chosnyka's land reading "FOR SALE 95 ACRES" and running a title search, sent Chosnyka an offer to buy the land as described by its legal description. The offer required acceptance by returning a singed copy within 10 days. Chosnyka singed and returned the copy the next day, along with a paper stating that he accepted w/ the following conditions: (1) that the closing date be within 60 days and (2) that the land's legal description was accurate but the acreage stated in it was only an estimate. The next day Meyer went to the property and discovered an underground pressurized gas line on it. Because of this and the lack of a warranty that the property was exactly 95 acres, he refused to buy the property for the amount stated inthe offer. Chosnyka insisted on that price, and when Meyer refused to pay, sold the property for less to someone else. He then sued Myer for breach of contract.

Was Chosnyka's acceptance w/ conditions really a counteroffer?

2. McCarthy listed some real estate for sale with her broker. When the price had been reduced to $125, 000, Madaio made an offer of $100,000. McCarthy counteroffered $110,000, and they agreed to a sale at $105,000. The contract was to be effective when Madaio returned a singed formal contract. On January 12, McCarthy signed a formal contract prepared by her agent, and it was delivered to Madaio on the same day. Madaio signed it the next day but did not mail it back to McCarthy until January 18. On January 16, McCarthy called Madaio and said she was withdrawing the offer. Madaio said he had already signed the contract, and intended to go ahead with the offer. He sued for specific performance of the contract.
Did Madaio effectively accept the offer before McCarthy withdrew it?

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. math

    Julie Fleming owns 903/4 acres of land in Arizona. She sells one-third of the land and deeds 1/4 of the reminder to her son. How many acres of land does she have left?
  2. Business Law

    On July 15, A, owner of a hardwares store, sends a letter to B offering to sell his store, business inventory and good will for total price of $150,000. B sends a letter to A on July 20, accepting the offer n agreeing to buy the business …
  3. business/contract law

    Hi. Thanks in advance for helping. I have a partnership agreement in front of me and I have to determine whether there is a valid enforceable contract. There are signatures by 6 parties (I am assuming they are of legal capacity) signaling …
  4. Business law

    One of the Directors of a property maintenance company has a piece of land for sale and the company would like to buy it from him. The land is thought to be worth between 80,000$ and 100,000$. Can they just make an offer for it?
  5. Business Law

    One of the Directors of a property maintenance company has a piece of land for sale and the company would like to buy it from him. The land is thought to be worth between $80,000 and $100,000. Can they just make an offer for it?
  6. math 115

    Business and finance. A piece of land measures3 3/4 acres and is for sale at $60,000. What is the price per acre?
  7. math

    A land developer wants to develop 20 acres of land. Each lot in the development is to be 5/4 of an acre. How many lots will the land developer have in the 20 acres?
  8. business

    Construction of a new plant: Architect's fees $ 4,000 Cash paid for land and run-down building thereon 120,000 Removal of old building 18,000 Salvage from sale of old building parts (4,000) Survey to site the new building 800 Legal …
  9. Business Law

    Carrie decides to offer Shelley the opportunity to purchase her motorcycle for just $500. Carrie told Jim, a mutual friend of Shelley and her, that she intended to make the offer. Later, Carrie changes her mind. Shelley approaches …
  10. Real Estate Law

    ______ is an agreement to the terms of an offer, creating a binding contract. a. Acceptance b. Escrow c. Legal Capacity D. Equitable title

More Similar Questions