Question

Suppose that Jack, Sophia, and Hal enter into a contract to close on the business without the non-competition agreement. Jack states that he would probably sign the non-competition agreement if they included an extra $100,000. A month later, Hal and Sophia bring Jack $100,000. What is the result?
a. Jack cannot change his mind, since he stated that he would probably accept $100,000 additional for the non-competition agreement.
b. If Jack does not accept the $100,000, he may not sell the frozen food, but only for a reasonable amount of time.
c. If Jack does not accept the $100,000, there is a valid contract for the sale of the business, without a non-competition clause.
d. If Jack does not accept the $100,000, there is no valid contract for the sale of the business or for the non-competition agreement.

Answer 1

Answer:

c. If Jack does not accept the $100,000, there is a valid contract for the sale of the business, without a non-competition clause.

Explanation:

If Jack, Sophia, and Hal enter into a contract to close on the business without the non-competition agreement, and Jack stated that he would probably sign the non-competition agreement if they included an extra $100,000.

If a month later, Hal and Sophia bring Jack $100,000. the result will be If Jack does not accept the $100,000, there is a valid contract for the sale of the business, without a non-competition clause.

Jack CAN change his mind, since he stated that he would probably accept $100,000 additional for the non-competition agreement.