Marcus makes an offer to purchase a two-family home in Springfield, Massachusetts. The offer states it will expire at noon on Tuesday. On Monday evening, the seller's attorney calls Marcus and informs him the seller has died. Under Massachusetts contract law, what is the status of Marcus's offer?
Correct Answer
C) The offer is automatically terminated because the death of either party terminates an offer before acceptance
Under Massachusetts contract law, the death of either the offeror or the offeree automatically terminates an offer before acceptance. Since the seller (offeree) died before accepting Marcus's offer, the offer is terminated by operation of law, regardless of the stated deadline. Marcus's offer cannot be accepted by the seller's estate without a new agreement.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A purchase agreement is a legally binding contract between a buyer and seller that outlines the terms and conditions for the sale of real property. It is also commonly called a sales contract, purchase and sale agreement, or earnest money agreement.
Specific performance is a court-ordered remedy that compels the breaching party to fulfill their obligations under the contract rather than simply paying monetary damages. It is an equitable remedy used when monetary damages would be inadequate.
The Statute of Frauds is a legal requirement that certain types of contracts must be in writing and signed to be enforceable. In real estate, all contracts for the sale of land or interests in land must be in writing.
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