Mr. Buyer, the plaintiff in the action, is attempting to enforce a contract in which the defendant, Mr. Seller agreed to sell to Buyer his property, Blackacre, for $100,000. Which of the following, by itself, would be sufficient to allow Mr. Seller to get out of the contract?
A) The $100,000 was not enough, so was not fair.
B) At the time of the contract, unknown to Mr. Buyer, Mr. Seller did not understand the quality and nature of this act because of mental incapacity.
C) Although there was a letter from Mr. Seller referring to its essential terms, the contract itself was not in writing.
D) Although both parties agreed to this, there had not actually been any money paid on the contract, not even a deposit or a down payment.
E) The parties clearly stated that they did not want the agreement to be legally binding.
Correct Answer:
Verified
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