Shania offers to sell her lakefront property to Tonya for $150,000, and Tonya agrees to buy it. Tonya and Shania both sign the r

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Shania offers to sell her lakefront property to Tonya for $150,000, and Tonya agrees to buy it. Tonya and Shania both sign the r

eal estate contract, but, before they close the deal, Shania learns that a new resort is being opened on the lake. The opening of the resort will drive property prices up in the area, so Shania believes she can sell her property to someone else and get a better price on the deal. Shania tells Tonya that she has decided not to sell the property to Tonya. If Tonya sues to enforce the contract, a court will likely: ___________

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1 answer:

Lina20 [59] · Answer 1 · 2023-06-01T07:09:00+03:00

Some of the likely things which a court would do if Tonya sues to enforce the contract are:

1. X not enforce the contract, because people are free to choose to whom they sell their property.
2. award monetary damages to Tonya.
3. require Shania to go through with the sale.
4. X grant specific performance by requiring Shania to find a comparable piece of land for Tonya at a comparable price.

<h3>What is a Contract?</h3>

This refers to the legally binding agreement which is entered by two or more parties based on terms and conditions.

With this in mind, we can see that because Shania wants to sell her lakefront to Tonya for $150,000 and they sign a contract but before they close the deal, Shania discovers that the property prices would go up and declines to sell.

In conclusion, if Tonya sues to enforce the contract, we can see that the contract would not be enforced, but Tonya would be paid monetary damages.