Answered: A purchaser enters a contract to… | bartleby

Related questions

Question

A purchaser enters a contract to purchase land from a seller. The contract provides that the settlement date is 1 March but time is not of the essence.

Is the following statement true or false?

‘The purchaser is not legally obligated to settle the transaction on 1 March.’

True or False?

Expert Solution

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Blurred answer

Similar questions

What is the main difference between contracts discharged due to operation of law and contracts discharged due to acts of the parties? Discharge due to acts of the parties never requires court intervention, whereas discharge due to operation of law always does. Discharge due to operation of law reflects at least one party's intent, whereas discharge due to acts of the parties doesn't necessarily reflect either party's intent. Discharge due to acts of the parties is legally binding, whereas discharge due to operation of law is not. Discharge due to operation of law doesn't necessarily reflect either party's intent, whereas discharge due to acts of the parties reflects at least one party's intent. 11 XIR Submit > 17
Which of the following is true regarding whether the buyer and seller may negotiate contractually for a shorter time period to sue for breach of contract than the statute of limitations period ordinarily recognized by the Uniform Commercial Code? Multiple Choice The buyer and seller may not negotiate for a shorter time period to sue for breach of contract, instead, they must recognize the statute of limitations period established by the Uniform Commercial Code. Without limitation, the buyer and seller may negotiater a shorter time period to sue for breach of contract than the statute of limitations period ordinarily recognized by the Uniform Commercial Code. The buyer and seller may negotiate for a shorter time period to sue for breach of contract than the statute of limitations period ordinarily recognized by the Uniform Commercial Code, so long as the contractually-agreed-upon time period is not for less than one year. The buyer and seller may negotiate for a shorter time period to…
Can the certainty of the object of the contract be negated by the failure of the parties to state the exact location of the property in the contract?
WHAT IS THE MEANING OF THE OBJECTIVE THEORY OF CONTRACTS AND HOW DOES THE OBJECTIVE THEORY OF CONTRACTS RELATE TO CONTRACTUAL INTENT?
Identify FOUR (4) ways to terminate a contract, esplain it briefly and include examples
Samantha signs a contract to buy a brand-new unit in Kogarah. The contract is subject to an extended settlement period of 120 days. Samantha, through her solicitor, transfers the 10% deposit to the vendor’s solicitor and then speaks with her mortgage broker about obtaining a loan. While all this is going on, Samantha sells her own unit in Oatley. She intends to use the money realised from the sale of the Oatley unit to pay the balance of the purchase price of the Kogarah unit. A problem arises when Samantha’s unit does not sell by the expected date. Samantha needed to secure short-term finance at an almost exorbitant interest rate just so she can buy the Kogarah unit. Samantha consults her solicitor, who advises her that she can sue the buyer of her Oatley unit for breach of contract and ask for damages including the additional interest charges she incurred. Is Samantha’s solicitor correct? Explain pls
Farmer grows and sells blueberries. Maine Wild Blueberry Co. agreed to buy all of Farmer’s crop for the next two years under a contract that left the price to be determined. Farmer delivered all of the blueberries he was able to harvest. However, a dispute arose over the amount of blueberries Maine will accept and the price it has to pay. Is there an enforceable contract? If so, what is the amount of blueberries Maine must accept and at what price? Discuss is detail.
Parties to a contract ('the Pre-existing Contract) may terminate the contract by entering a further contract, which discharges the Pre-existing Contract. Group of answer choices True False
What is the test for whether a term is a condition? pick one answer from the following: The parties have described the term as a 'condition' or 'essential'. The promisee would not have entered the contract unless assured of strict or substantial performance of the relevant promise. Whether the term provides that performance of the contract is conditional on a contingency being fulfilled, such as finance being obtained, or development consent being granted. It was apparent to the promisor that the promisee would not have entered the contract unless assured of strict or substantial performance of the relevant promise.
Option A is not the answe
Why is past consideration no consideration at all? The adequacy of past consideration is difficult to determine. Past consideration is considered to be illusory. Past consideration may involve parties who are not involved in the current contract. Past consideration was provided before the current contract was made, and the current contract requires a benefit that has not yet been conferred.
What is the legal definition of a contract and what elements are necessary for a contract to be valid and enforceable?

SEE MORE QUESTIONS