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Mary agrees by written contract to sell Blackacre

01 / 10 / 2021 Projects

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Mary agrees by written contract to sell Blackacre

Mary agrees by written contract to sell Blackacre to Jan for $200,000. The closing date for the contract is set for 2 months away to allow for financing, inspection and so forth. One month prior to closing, Jan tells Mary she will only purchase for only $180,000. Mary agrees. At the closing, Mary changes her mind and tells Jan that she must pay the entire $200,000 or Mary will sue. Who will win such a dispute, and why? Examine the element of consideration.



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