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 Jv 462 2021

Jv462 Fillable 2021-2025 Form

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imagine john offers to sell jane a painting for ten thousand dollars but jane needs time to think about it they execute an agreement whereby jane pays john 10 and john agrees to keep the offer open for a week this is a classic example of an option contract in which one party provides consideration usually payment in exchange for the other party's irrevocable promise to keep an offer open for a set period in 1464.8 limited versus jopik we explore whether such a contract is enforceable if the recited consideration doesn't in fact change hands gail jopik purchased an undeveloped residential lot from 1464.8 limited and millis management corporation which we'll refer to collectively as millis at closing the parties entered an option contract granting millis as developer of the subdivision the exclusive right to repurchase the lot from jopic if she didn't begin constructing a home within 18 months the agreement called for millis to pay 10 as consideration and

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