Contract involving real estate transaction

Assignment Help Business Management
Reference no: EM133127941

Scenario

You work for a U.S. based company that does home appraisals. While conducting an inspection on a home, you know the home has been contracted to sell for $50,000.00. You come to the conclusion that the home can appraise for $80,000.00. You also know that your sister has been looking for a home in this desirable neighborhood but most homes are well over six figures. You mention to the owner that your sister would be happy to pay $60,000.00 for the home and it would certainly appraise for that. You wink as you walk out the door, after handing the owner your card with your contact information. The owner calls you and says she would accept if your sister made an offer.

What are the elements for a valid contract involving a real estate transaction? Do your comments to the owner constitute a valid contract? why or why not?

If the initial buyer wants to sue the homeowner for breach of contract, what court(s) would have jurisdiction and why?

If the initial buyer wants to sue you for intentional interference with contractual relations, what court(s) would have jurisdiction and why? Could the initial buyer sue your company? Why or why not?

What ethical issues are involved in this situation (consider any personal conflicts of interest and any professional obligations you owe to your company)?

Reference no: EM133127941

Questions Cloud

Effective negotiation and conflict management : How can mangers use the principles of effective negotiation and conflict management to resolve power struggles within health care settings?
Describe how normal or poisson distribution : Describe how a normal or Poisson distribution was used in the scenario in the article. Reflect on how you can personally use this information in everyday life
Some key characteristics of indigenous religions : What are some key characteristics of indigenous religions, and how do they differ from key characteristics of other religions?
Identify the top three trends : In this project you will research your industry and identify the top three trends.
Contract involving real estate transaction : What are the elements for a valid contract involving a real estate transaction? Do your comments to the owner constitute a valid contract? why or why not?
Severance package : Explain whether severance pay is taxable and why or why not. Create a chart depicting a fair and equitable timeline for disbursement of the compensation.
Urging employees to sign authorization card : Discuss a scenario where a coworker gives another employee a union leaflet urging employees to sign an authorization card.
AIP Funding of Airports : Identify the differences between AIP funds and the public funding of other transportation modes (such as bus and rail)
Avon Products or GE Money America Case Study : Illustrate the types of evaluation information that were collected and how they are used to benefit the company.

Reviews

Write a Review

Business Management Questions & Answers

  Discuss what the marketing mix

Research, identify, and discuss what the marketing mix is as well as why it is important to a business.

  What is a tactic

What is a tactic? differentiate between a Strategy and a Tactic

  Managing organisational change

Case Study and Change Management Plan - prepare a document outlining all the issues that he might face in relation to barriers for change from staff members.

  Discussion-foreign projects

If fact, companies such as General Electric, 3M, and Caterpillar are earning more than half of their annual revenues from overseas operations.

  What could be a mission or vision of the community medical

what could be a mission or vision of the community medical cwhat could be a mission or vision of the community medical

  Calculate the amount that harry will have to pay

Calculate the amount that Harry will have to pay if he waits for a period of three years to pay off the loan.

  Discuss the characteristics of an innovation

Discuss the characteristics of an innovation that can account for differential diffusion rates.

  Core and overall rate of pce inflation

What is the difference between the core and overall rate of PCE inflation? Why is the overall rate of inflation lower than the core rate of inflation?

  Theory underlying the workmen compensation

According to the late Professor William L. Prosser, "The theory underlying the workmen's compensation acts never has been stated better than in the old campaign

  Evaluating contention sometimes leadership is irrelevant

Evaluate the contention that sometimes leadership is irrelevant. Give detailed explanation of organizational culture and the impact leaders have on organizational culture.

  List the implementation stages of the business level

Devise the business level strategies as well as operational strategies in full support of this newly devised strategy. List the implementation stages of the business level strategies

  How the effectiveness of the advertising will be measured

Define how the effectiveness of the advertising will be measured. Describe the different promotional strategies that may be used in addition to advertising.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd