Question

Organic Farms Company contracts to buy two tracts of land from Prime Bottomland, Inc. Both parties believe that the two tracts are adjacent, but in fact they are not. Prime Bottomland is still willing to sell the land, but under these circumstances the deal would adversely affect Organic Farms.

Answer 1

Because of the parties’ belief about the adjacency of the property, their contract is voidable.

The contract is voidable since both parties—Organic and Bottomland—made a bilateral error regarding the proximity of the properties.

A contract that is voidable can be terminated or revoked for a number of different reasons. The decision to void or withdraw the contract rests solely with the parties involved.

Since both parties erroneously believed that the tracts were adjacent and the fact that they are not has a significant detrimental impact on them, Organic Farms has the right to opt to nullify this contract.

Why are there so many smaller organic farms?

A rise in smaller organic farms producing anything from lettuce and apples to eggs and meat has been prompted by the popularity of food that has received an organic certification. Despite making up a very small portion of total farm acres in the United States, the number of farms producing organic food is directly impacted by rising market demand.

How can I partner with a land broker to buy land?

You can create these tracts with the aid of your land broker. Print the pamphlets and include them with the partnership contract. If one partner is forced to sell, the surviving partner has the same 30-day window to purchase the remaining interest at 95% of appraised value, followed by an extra 90-day window to find a different buyer.

Learn more about Farmer Brown contracts:

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