There are three questions for this exercise. When answering the questions, please use references to legal cases, legal concepts and/or statutes.
Use double spaced, 12 point font. At least 2 citations for each question and approximately 2 pages per question. Question does need to be restated. Just label, in the margin 1,2,3.
(1) Bert orally promised Ernie that if Ernie quit his job to care for Bert, who was elderly and ill, Ernie would receive Bert’s real estate at Bert’s death. Ernie quit his job and cared for Bert until Bert died two years later. No will or deed was found. Assuming that Ernie lived on the property before Bert’s death, is Ernie entitled to Bert’s real estate?
(2) Hilda, a widow, lives on a 500 acre farm worth $500,000. She has one son, Jim. To avoid probate, Hilda has decided to deed the farm “to Hilda and Jim as joint tenants with rights of survivorship and not as tenants in common.” What potential problems might arise from this arrangement? Why
(3) The Farringtons entered into a signed agreement to sell their real estate to the Tucsons. The price was stated in their agreement as follows: “Sum of fifty thousand dollars ($50,000). Approximately one-third down, the balance to be paid over a period of 10 years at 7% interest. This option to expire in 30 days. One hundred dollars ($100) to be paid at time of agreement with said amount to be applied on purchase price.” Is this an enforceable agreement? Why or why not?
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