Buyer decides to breach and not go through with the sale

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Reference no: EM132176075

Joe was trying to sell his home. He went out drinking with some buddies on Friday night and got really drunk. Saturday morning his realtor came by with a contract for the sale of his home. Joe looked over the contract, asked the realtor some questions about the date of the closing, asked the realtor what he thought about the contract, then signed the contract and went back to bed. When he woke up on Saturday afternoon he saw a copy of the contract and had a change of heart. The contract was for $10,000 less then what he originally wanted for the house. 6. Joe wants to disaffirm, claiming he was drunk when he signed. Can he? 7. Is this contract within the Statute of Frauds? 8. If the contract is valid and the buyer sues Joe for specific performance, which of the following is true? 9. Regarding signatures on written contracts, which of the following is true? 10. Which of the following remedies are available to Joe if the contract is valid but the buyer decides to breach and not go through with the sale?

Reference no: EM132176075

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