EverythingOnConstruction - Ask. Build. Learn together. Logo

In Law / College | 2025-07-05

Lery contracts to sell a certain tract of land to Briar for $18,000, but the contract is silent as to the time of delivery of the deed and payment of the price. Identify the correct statements. Choose two answers.
A. The contract is valid.
B. The contact is commercially impractical.
C. The law will imply that the respective performances are mutually dependent.
D. The contract requires an accord and satisfaction to be enforceable.

Asked by cewashington73

Answer (2)

The correct statements are that the contract is valid, and the law will imply that the respective performances are mutually dependent. Despite the lack of specifications in timing, the contract remains enforceable. Each party's obligations depend on the other's performance in the transaction.
;

Answered by Anonymous | 2025-07-06

In the scenario presented, we're dealing with a contract for the sale of land between Lery and Briar. The contract mentions the price of $18,000 but omits the specifics regarding the timing of the delivery of the deed and the payment of the price.
Here are the correct statements:

The contract is valid.
A contract for the sale of land can be valid even if it does not specify the exact timing for the delivery of the deed and payment, as long as the basic elements of a contract are present: offer, acceptance, and consideration. The law often fills in the gaps where details like timing are not specified, guided by standards such as 'reasonable time' based on common business practices.

The law will imply that the respective performances are mutually dependent.
When a contract does not specify the timing for delivery and payment, it's generally implied by law that these performances are concurrent conditions. This means that the transfer of the deed and the payment of the price are dependent on each other. Neither party can demand performance by the other until they are ready to perform their own obligations.

Answered by DanielJosephParker | 2025-07-07

Related Questions in Law

[Solved] Which of the following is the rule that requires that there must be some significant relationship between the insured and the person, object, or activity that is the subject of the insurance transaction? A. Doctrine of Significant Relationship B. Doctrine of Equitable Rates C. Doctrine of Subrogation D. Doctrine of Insurable Interest

[Solved] Driving without "D" on your SIDA badge is a Class II violation. A. True B. False

[Solved] In which of the following would A be deemed to have survived B for purposes of A’s heirs benefitting from B’s assets? A. A’s heirs establish by a clear and convincing evidence that A survived B by three days, where A is the beneficiary under B’s life insurance policy, which requires survivorship by 30 days to receive proceeds. B. A’s heirs establish by a preponderance of evidence that A survived B by three days, where A and B are joint tenants with right of survivorship. C. A’s heirs establish by clear and convincing evidence that A survived B by three days, where A is a devisee under B’s will. D. A’s heirs establish by clear and convincing evidence that A survived B by three days, where B died intestate.

[Solved] Professor Abadi Both courts have said that the Copyright Act does not expressly authorize animals to assert ownership of a copyright and recover for infringement. So why is this, Kendrick price? A. The court relies on rules of statutory interpretation. B. The court relies on precedent.

[Solved] The FBI special agent today likely has one or more of which of the following academic qualifications? (Select all that apply.) A. A juris doctorate degree from an accredited law school B. An accounting degree and completion of the certified public accounting exam C. Fluency in one or more relevant foreign languages D. A firearms maintenance degree from an accredited community college