Unformatted text preview: community, and imposes upon the buyer a duty to make a good faith effort to do so. Second, is that the report has to satisfy the buyers. The reasonable person standard could apply here, which makes the statement a question of fact, not a question of law. The two do not make the consideration an illusionary consideration. Holding: A condition that the agreement may be canceled by a specific contingency is not an illusionary consideration. Synthesis: Mattei v. Hopper (1958) – A purchaser of a shopping center buildings included on his terms “subject to obtaining leases satisfactory to the purchaser.” It did not make it illusionary because the purchaser still has a duty to make it in good faith, and that doesn’t make it illusionary. Dissent/Concurrences:...
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This note was uploaded on 12/20/2011 for the course CONTRACTS 111 taught by Professor Dellinger during the Fall '11 term at Western State Colorado University .
- Fall '11