A buyer bought a property without telling the seller or broker of his intended purpose for the property. The contract contained no contingency clauses and was properly signed and executed. He became very angry when he was unable to obtain the zoning for the commercial project he had planned and now wants to declare the contract null and void and get his money back. What is the status of the contract at this time? O This is a breach of contract since the buyer cannot use the property. . This is an implied, valid contract. O This is a voidable, enforceable contract. O This is a valid, enforceable, executed contract.

A buyer bought a property without telling the seller or broker of his intended purpose for the property. The contract contained no contingency clauses and was properly signed and executed. He became very angry when he was unable to obtain the zoning for the commercial project he had planned and now wants to declare the contract null and void and get his money back. What is the status of the contract at this time? O This is a breach of contract since the buyer cannot use the property. . This is an implied, valid contract. O This is a voidable, enforceable contract. O This is a valid, enforceable, executed contract.

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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