Question
In: Psychology
What is the legal effect of a financing condition in an offer?
What is the legal effect of a financing condition in an offer?
There is no contract until the vender provides the seller with financing.
The transaction will not proceed unless the buyer’s lender grants a mortgage.
The lender must approve the price, deposit, and method of payment.
The lender will be given control of the money needed to complete the deal.
Solutions
Expert Solution
The legal effect of a financing condition in an offer suggests that there is no contract until the vender provides the seller with financing.
This clause suggests that a legal sale wouldn’t get completed until the money or the financial terms is fulfilled. Until the seller gets the money, the contract wouldn’t be effective.
Hayet Jeridi answered 2 years agoRelated Solutions
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Three different plans for financing an $8,200,000 corporation
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Three different plans for financing a $2,800,000 corporation are
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Plan 1
Plan 2
Plan 3
10% bonds
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_
$1,400,000
Preferred 10% stock, $100 par
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$1,400,000
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Common stock, $2.8 par
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Round...
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Three different plans for financing an $5,000,000 corporation
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Plan 1
Plan 2
Plan 3
10% bonds
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_
$2,500,000
Preferred 5% stock, $80 par
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$2,500,000
1,250,000
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2,500,000
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Plan 2
Plan 3
10% bonds
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$3,150,000
Preferred 10% stock, $40 par
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$3,150,000
1,575,000
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Plan 2
Plan 3
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$4,250,000
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Plan 2
Plan 3
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