LAWS 4175 Lecture Notes - Lecture 2: Specific Performance, Posting Rule, Form Letter
28 Dec 2020
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Document Summary
Facts: lonergan v. scolnick at the california. Ny, placed an ad in the los angeles. Times paper for a piece of land he owned there in march of 1952: land was worth. ,081, but was being sold for minimum because. Scolnick needed cash: the add stated that the property was cash only and that he was willing to sacrifice it, lonergan responded to the offer, expressing interest, scolnick wrote. Lonergan back saying that his minimal asking price was. Scolnick"s part: remember, a contract requires three crucial elements: 1. ) offer, 2) acceptance, and 3. ) consideration, offer existed when. Lonergan wrote and expressed interest, though it is unclear whether not acceptance took place: note that the timing of the letters does not really make sense. See timeline below: letters timeline: add placed in march of, lonergan responses in march of, on march 26th, form letter was sent to. April 7th, letter regarding finding the property and escrow agent is sent.
