Letitia contractually agreed to sell a piece of land called Blackacre to Rocco for $250 000.Closing was scheduled to occur on June 1.On May 15, however, Letitia told Rocco that she did not intend to transfer title to him.Which of the following statements is TRUE?
A) If Blackacre is really worth $300 000, and if Rocco has not paid any part of the purchase price, he will be entitled to damages of $50 000.
B) A court will not order specific performance if Blackacre is really worth $300 000.
C) As a matter of fairness, if Blackacre is really worth $300 000, a court will order specific performance only if Rocco agrees to increase the purchase price by $50 000.
D) Canadian courts no longer order specific performance of contracts for the sale of land.
E) If Rocco already paid the purchase price, and if Blackacre is really worth $300 000, Letitia will be required to pay a total of $50 000 in compensatory damages.
Correct Answer:
Verified
Q22: Hristo created a mortgage, in favour of
Q23: Which of the following statements is TRUE?
A)The
Q24: Albert owns a piece of land called
Q25: Astrid borrowed $500 000 from Bartholomew.As security
Q26: Salome owned a piece of land called
Q28: Which of the following statements provides the
Q29: Which of the following interests in land
Q30: Randall initially owned a piece of land
Q31: Pavla is the victim of mortgage fraud
Q32: Suneeta wants to buy a large commercial
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents