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Author Question: Adams signed a contract in which he promised to sell his house to Jefferson for $225 000. The ... (Read 82 times)

joesmith1212

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on: Aug 7, 2021
Adams signed a contract in which he promised to sell his house to Jefferson for $225 000. The "deposit" to be paid was set at $4000, and the liquidated damages clause provided that the deposit would be forfeited in the event that the buyer breached the contract. The buyer did breach the contract. Because the cost of housing was falling, it was difficult, even after a reasonable time had passed, to find a new buyer. The highest offer was $218 000. Adams accepted. Which of the following is true with regard to Adams's remedies?
◦ Adams must sue for specific performance, which is the only remedy, an equitable remedy, available to the parties in land transactions.
◦ Adams would be entitled to damages for money lost — $7000 plus selling costs.
◦ Adams could ask the court to order an accounting.
◦ Adams could sue for an injunction to stop Jefferson from buying another house.
◦ Adams would be entitled to the $4000 only, if the court held that the deposit was an honest attempt of the parties to estimate damages.
Legal Fundamentals for Canadian Business ¦ Yates ¦ 4th Edition
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Marked as best answer by joesmith1212 on Aug 7, 2021

jojobee318

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Reply #1 on: Aug 7, 2021
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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joesmith1212

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Reply 2 on: Aug 7, 2021
Thanks for the timely response, appreciate it

Dinolord

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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