On Monday, 123 Perfect Lane, comes on the market for sale and 3 interested buyer

Question

On Monday, 123 Perfect Lane, comes on the market for sale and 3 interested buyers and their realtors are waiting for the doors to open at 9am. Amy and Bob love the house and both want to buy it. Amy actually knows the owner of the house and immediately calls her on the phone and says, "I'll buy it." The seller says, "Great, I accept and can't wait for you to live here." Bob's realtor whips out his smartphone and immediately sends an email to the seller's agent - "My client will buy your house for full price, closing in 10 days." Using legal terms and concepts discuss whether Amy and/or Bob have an enforceable contract. Now assume that Amy and the seller have signed a written contract for the sale/purchase of the house. Before closing, Amy receives a copy of the Homeowner's Association Bylaws. She scans through the bylaws and is shocked to see that she can only post political signs in her front yard 30 days before an election and must remove them immediately after an election. Discuss whether Amy has a legal claim against the HOA for the political sign restriction. Deciding that she loves the house despite the sign restriction, Amy is ready for closing. Two days before closing, a severe storm hits Dallas and the house is hit by a tornado. Explain in legal terms whether Amy is still obligated to purchase the home.

Explanation / Answer

Solution:-
Bob's realtor sent an email in complete legal terminology, but the seller's realtor acceptance email is not mentioned. hence bob's case cannot be legally enforceable. whereas amy was made a oral promise with the acceptance of the house owner herself. hence amy and the house owner are now binded in a legal contract. it also fulfills the implicaton of being an offer with an acceptance. hence Amy's case is enforceable.

depending on the state, sometimes state law provides protection to the signs against the HOA. in such a case, it would be helpful to Amy.

if there are no state laws protecting, then Amy can hold a board meeting along with her supporters and convey her thoughts.

amy and the seller are into written contract, and hence, when once the legal contracts have been exchanged, both the parties are legally obligated to complete the sale. this would regardless of all the damage that has ocurred between the exchange of the contracts and completion of the sale. Amy now has to buy the property and needs to do the repairs herself unless she has takemn out an insurance for the house from the day of exhange of contracts. hence , regardless of the insurance, Amy is obligated to purchase the house.

1. No one have entered into the enforceable contract because seller is not accepted. Amy called and seller tell not wait means contract is not completed . Contract will be enforced if seller accepted the contract or seller received the consideration or transfer of ownership made and same situation for Bob.

2. No , Amy has not the legal claim against the HOA for the political sign restiction. Because it is under Bylaws and why it has made that is as per the Bylaws maker and only Amy can ask for the resiction and can go for legality of HOA.

3. No . Amy is not obligated because it was not closed due to sign restiction and owership not transfered means not obliged to purchase.

Hope It Helps You.

Related Questions

Navigate

• Browse (All)
• Browse O
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.