Question

15) Seller writes Buyer on 1/1/09 and says: “I will sell you my house for $100K...

15) Seller writes Buyer on 1/1/09 and says: “I will sell you my house for $100K closing will be 12/31/09.” Buyer writes Seller: “Ok”. On 1/1/10, Buyer failed to pay for the house. Buyer’s failure to buy the house is called____________? a) Failure to buy b) Failure to purchase c) Breach d) Screech

Homework Answers

Answer #1

The buyer's failure to purchase the house on the date mentioned in the contract is called the breach of the contract

C)Breach

There are two types of breach of contract actual breach of contract and anticipated breach of contract

In case of actual breach the buyer doesn't intimate the seller regarding his inability before due date

In case of anticipated breach the buyer informs the seller in advance regarding his inability to pay

In this question it is a case of actual breach of contract

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