Promise to Sell Real Estate: Acceptance After Deadline Valid
Synthèse Legislator
Généré par l'IAA party, having signed a promise to sell real estate that stipulated a fixed price and a completion deadline, later sought to be relieved of the obligation, alleging that the other party had only offered to buy at a lower price, which the trial court dismissed, and the high court upheld the dismissal, reasoning that the seller's unilateral declaration of acceptance, even if made after the stipulated deadline, was valid because the promise to sell did not specify a time limit for acceptance and the initial offer did not explicitly make the deadline a condition for the validity of the option, meaning the acceptance was timely and formed a binding sale contract.
Regeste Legislator
Généré par l'IAPromise to Sell Real Estate: Acceptance After Deadline Valid: A party, having signed a promise to sell real estate that stipulated a fixed price and a completion deadline, later sought to be relieved of the obligation, alleging that the other party had only offered to buy at a lower price, which the trial court dismissed, and the high court upheld the dismissal, reasoning that the seller's unilateral declaration of acceptance, even if made after the stipulated deadline, was valid because the promise to sell did not specify a time limit for acceptance and the initial offer did not explicitly make the deadline a condition for the validity of the option, meaning the acceptance was timely and formed a binding sale contract.