Law Assignment #5 Contracts

Law Assignment #5 Contracts

Memorandum

From: Clerk

Date: September 16th 2012

Issue

The issue in this case is that under the Massachusetts law, any contract of sale that is equal or above the amount of /$500 dollars must be in a written agreement. Teri had entered into a written agreement that made the agreement enforceable, but she desires that hack be denied specific performance by the judge due to her unique position which stops her from moving out of her hometown because of the Boston residence for firefighters rule.

Rule

Under the Massachusetts rules, any contract of sale that amounts to the price of $500 or more must be recorded. Section 2-201. (www.law.cornell.edu).

In this case, the contract of sale was agreed to in an agreement. According to this agreement, Teri was to sell her house to jack for $300,000. In order for this agreement to be legally valid according to the laws of Massachusetts, there was the need to have this agreement written down in a contract. This had been done with Teri accepting the offer and signing a contract that would sell her house to jack for $300,000. This means that the agreement has become legally valid and is enforceable.

Specific performance may be given to Jack as Teri wants to move out of the agreement she had signed. Section 2-716. (http://www.malegislature.gov)

In this case, it is the seller who wants to back away from the deal. In such case, since the buyer, Jack has the advantage of having entered a written contract with the seller, Teri; he can sue her and ask the judge for specific performance. According to the Massachusetts lis pendens law, in case a real estate deal goes wrong, then the court will be liable to issue a lis pendens through which the buyer would be able to gain “specific ...