Discuss two grounds courts will use to imply term

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Reference no: EM132295063

March 15, Francine lists her house for sale with extreme Realty for $295,000. April 1, George views the house with his Realtor and writes an offer. Terms of the offer include: total price,$275,000; deposit, $15,000; to be paid upon closing, August 1, $260,000.As George needs the equity from the house he currently owns to complete the purchase, he writes the offer “subject to” the sale of this house by July 1. Francine reluctantly accepts the offer.

1. What is an implied term?

2. Discuss two grounds courts will use to imply a term.

3. There are two implied terms in this contract? What are they an what is their legal effect?

Reference no: EM132295063

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