Agreement to Buy or SELL
CHAP 14 Q 10. Sarah and Eddie Hogan wanted to sell 2.5 acres of land through their real estate agent, Tara Richardson. On December 10, 2001, Warren Kent offered to purchase the land for $52,500. An “Agreement to Buy or Sell” was created, which Kent signed right away. One term of the agreement was that the offer would expire on December 11, 2001, at 3 p.m., and it stated additionally, “Time is of the essence and all deadlines are final except where modifications, changes, or extensions are made in writing and signed by all parties.” Although Richardson scheduled a meeting on December 11, 2001, at 2 p.m. with the Hogans, the Hogans failed to appear. However, the parties agreed to a two-day extension, lasting until December 13, 2001, at 3 p.m., and the extension was binding and irrevocable according to the “Addendum to Agreement to Purchase or Sell.” The Hogans signed both documents at 9 a.m. on December 13, 2001. At about 11 a.m., Kent also signed the addendum. However, neither Kent’s agent nor Richardson contacted the Hogans prior to 3 p.m. about Kent’s acceptance. After 3 p.m., Richardson realized that the Hogans had not placed the date and time next to their signatures. When she met with the Hogans, the Hogans placed the date and the time as 4:48 p.m., informing Richardson that they, the Hogans, had changed their minds about the sale. Kent sued for specific performance of the contract. What effect, if any, did the failure to communicate the acceptance of the offer prior to 3 p.m. have in terms of whether a contract was formed? What was the appellate court’s reasoning? [Kent v. Hogan, 2004 La. App. LEXIS 2539.]
chap. 15 Q 8 On February 1, 2004, Zhang entered into a contract to buy former realtor Frank Sorichetti’s Las Vegas home for $532,500. The contract listed a March closing date and a few household furnishings as part of the sale. On February 3, Sorichetti told Zhang that he was terminating the sale “to stay in the house a little longer” and that Nevada law allows the rescission of real property purchase agreements within three days of contracting. Sorichetti stated that he would sell the home, however, if Zhang paid more money. Zhang agreed. Another contract was drafted, reciting a new sales price, $578,000. This contract added to the included household furnishings drapes that were not listed in the February 1 agreement, and it set an April, rather than March, closing date. The primary issue before the court was whether a real property purchase agreement is enforceable when it is executed by the buyer only because the seller would not perform under an earlier purchase agreement for a lesser price. Should the court enforce the second contract? Why or why not? [Zhang v. The Eighth Judicial District Court of the State of Nevada, 103 P.3d 20 (Sup. Ct. Nev. 2004).]
400 words in total, 200 words for each question.
that is 1.5 pages
Introduction to IRAC
All homework case problems and essay answers on the examinations must be answered in IRAC (Issue, Rule, Application, Conclusion) format. This is a specialized format that is used in the law to help us analyze legal questions and develop our critical legal thinking skills. It helps teach us how to look at a set of facts, determine the rule of law that applies, apply the law to that set of facts, and then develop a legally defensible conclusion.
Example:
Beulah walked up quietly behind Verna and hit her in the head with a textbook causing serious injury to Verna.
Verna will end up suing Beulah. The ISSUE is the fundamental/basic question that Verna will be asking the court to answer. It should be specific as to the cause of action upon which Verna is suing–in essence:
Issue: Whether Beulah is liable to Verna for battery.
The next step is the RULE. This is the rule of law that applies to the case. How can you tell whether Beulah is liable unless you know what the definition of battery is? The rule is the definition of the cause of action.
Rule: Battery-an unauthorized and harmful or offensive physical contact with another person.
The next step is the toughest–the APPLICATION. Students normally struggle with this section initially but eventually get the hang of it. It takes lots of practice by spending time on your homework answers and reviewing the model answers–practice, practice, practice. The application is where you take the elements of the rule (definition of the cause of action) and match it with the facts of the case. The best way to determine the elements is to look at the adjectives used in the definition. For example, the first thing that’s required for a battery is an unauthorized contact. The next thing that’s required is that the contact be harmful or offensive. The next requirement is that there be a physical contact. The last requirement is that the contact be with another person.
What facts indicate to you that this contact was unauthorized? The fact that Beulah walked up quietly behind Verna. What fact indicates that the contact was harmful (let’s go with harmful as opposed to offensive in this case)? The fact that Verna suffered serious injuries. What fact indicates that there was a physical contact? The fact that Beulah hit Verna. What fact indicates that Verna is a person? Well, the facts aren’t specific, but it’s a reasonable presumption.
Application: This contact was unauthorized because the facts state that Beulah walked up quietly behind Verna indicating that she did not want to be discovered. The contact was harmful because the facts state that Verna suffered serious injuries. The facts also state that Verna was hit by Beulah which means that there was physical contact. Finally, while the facts don’t state specifically that Verna is a person, it is a reasonable assumption given the circumstances.
The next section is the CONCLUSION which is the answer to the question asked in the issue–yes or no.
Conclusion: Yes. (It’s also okay to write a one sentence affirmation of your conclusion like “Yes, based on the facts presented, Beulah is liable for battery” if you choose to do so)
In IRAC you are not advocating one side or the other–you are to look at each scenario like a judge and analyze the facts leading you to develop a “ruling” so to speak.
Do not provide “cut and paste” analyses. These are analyses where the student simply gives back the facts given without any analysis. For example:
Issue: Whether Beulah is liable to Verna for battery.
Rule: Battery-an unauthorized and harmful or offensive physical contact with another person.
Application: Beulah walked up quietly behind Verna and hit her in the head with a textbook causing serious injury to Verna.
Conclusion: Yes.
This is not a good IRAC–and will result in very few points. It does not explain how you came to your conclusion. Basically, the student is taking the facts given and saying to the professor–“Here are the facts you gave me. I’m giving them back. I don’t know how to figure out this problem–you do it.” Don’t make your mother cry by getting a low score on your IRAC. Give me a good IRAC using proper form and analysis and get points for your efforts on an exam.
Also, if you are struggling to make the facts fit the rule, step by and ask yourself whether or not you are using the correct rule.
………………………..Answer preview…………………….
Case 1
Issue: The issue of this case is critical since both the agent and the purchaser did not communicate about the agreement of the sale of land so the purchase and the sale agreement was did not stand. Did the failure to communicate the acceptance of the sale of the land have in terms of whether a contract was formed?………………………
APA
461 words
