Mr.Goode,a neighbour of your parents,offered to sell you his house for $200 000,a bit below market value.You are definitely interested but would like to see if your employment contract will be renewed and check on financing.Mr.Goode says that he'll hold the offer open for you until May 1.On these facts,which of the following is true?
A)Mr.Goode will be bound to hold the offer open until May 1.
B)Mr.Goode's promise to hold the offer open is sufficient; the offer is safe until May 1,when it will expire.
C)Mr.Goode will be bound to hold the offer open indefinitely.
D)If Mr.Goode sells the property to someone else before May 1 and informs you of that,you can still sue him.
E)Mr.Goode will be bound to hold the offer open until May 1 if his promise to do so was written and under seal.

Question

Quizplus · Accepted Answer

Mr. Goode's promise to hold the offer open until May 1 would only be legally binding if it was made in a written and sealed document, typically referred to as an option contract in legal terms. Without such a formal agreement, his promise does not create a legal obligation to keep the offer open.

MrGoode,a Neighbour of Your Parents,offered to Sell You His House