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The owner of a large unimproved tract of land leased it to a tenant for five years at a monthly rental of 250,000 to
$275,000. The tenant then began farming operations on the land. Toward the end of the lease period, the owner informed the tenant that he was going to put the tract of land up for sale. The next month, when the lease expired, the parties settled a dispute over the tenant's right, if any, to compensation for the improvements by the following written agreement:"On the sale of the tract of land, the owner hereby agrees to pay the tenant two-thirds of any sale proceeds in excess of $250,000, provided that tenant may remain on the farm for the next year, rent-free, while the owner tries to sell it. After that time, the tenant may remain on the land until closing of the sale, at a monthly rental of $1,000. "The owner initially set the asking price at $300,000. After receiving scant interest, the owner decided to reduce the price to 240,000 and 256,000 to a buyer who visited the land while the tenant was away on vacation. Thereupon, the tenant, who had failed to pay the last two months rent as per the agreement, moved out. After closing, the owner refused to pay the tenant any of the sale proceeds, and the tenant brought suit to recover damages for breach of contract. Which of the following is the owner's most persuasive argument in defense of the tenant's suit?Plain-text mathematical notation (without MathML)
The owner of a large unimproved tract of land leased it to a tenant for five years at a monthly rental of 1,500.Therentalagreementprovidedthatthelandwastobeusedasfarmland.Shortlyafterthetenanttookpossessionofthetractofland,hebuiltthereon,athisownexpense,abarnmadeoflumber,whichwas15feetwide,20feetlong,andsetonloosebricks.Thebarnincreasedtheappraisedmarketvalueofthetractoflandfrom250,000 to $275,000. The tenant then began farming operations on the land. Toward the end of the lease period, the owner informed the tenant that he was going to put the tract of land up for sale. The next month, when the lease expired, the parties settled a dispute over the tenant's right, if any, to compensation for the improvements by the following written agreement:"On the sale of the tract of land, the owner hereby agrees to pay the tenant two-thirds of any sale proceeds in excess of $250,000, provided that tenant may remain on the farm for the next year, rent-free, while the owner tries to sell it. After that time, the tenant may remain on the land until closing of the sale, at a monthly rental of $1,000. "The owner initially set the asking price at $300,000. After receiving scant interest, the owner decided to reduce the price to 260,000.Thispricereductionsoinfuriatedthetenantthathethereaftermadenegativecommentsaboutthefarmtoalloftheprospectivebuyers.Finally,14monthsaftertheagreementbetweentheownerandthetenantwasexecuted,andafterrejectingoffersfor240,000 and 250,000,theownersoldthetractoflandfor256,000 to a buyer who visited the land while the tenant was away on vacation. Thereupon, the tenant, who had failed to pay the last two months rent as per the agreement, moved out. After closing, the owner refused to pay the tenant any of the sale proceeds, and the tenant brought suit to recover damages for breach of contract. Which of the following is the owner's most persuasive argument in defense of the tenant's suit?
Original LaTeX notation
The owner of a large unimproved tract of land leased it to a tenant for five years at a monthly rental of $1,500. The rental agreement provided that the land was to be used as farmland. Shortly after the tenant took possession of the tract of land, he built thereon, at his own expense, a barn made of lumber, which was 15 feet wide, 20 feet long, and set on loose bricks. The barn increased the appraised market value of the tract of land from $250,000 to $275,000. The tenant then began farming operations on the land. Toward the end of the lease period, the owner informed the tenant that he was going to put the tract of land up for sale. The next month, when the lease expired, the parties settled a dispute over the tenant's right, if any, to compensation for the improvements by the following written agreement:"On the sale of the tract of land, the owner hereby agrees to pay the tenant two-thirds of any sale proceeds in excess of $250,000, provided that tenant may remain on the farm for the next year, rent-free, while the owner tries to sell it. After that time, the tenant may remain on the land until closing of the sale, at a monthly rental of $1,000. "The owner initially set the asking price at $300,000. After receiving scant interest, the owner decided to reduce the price to $260,000. This price reduction so infuriated the tenant that he thereafter made negative comments about the farm to all of the prospective buyers. Finally, 14 months after the agreement between the owner and the tenant was executed, and after rejecting offers for $240,000 and $250,000, the owner sold the tract of land for $256,000 to a buyer who visited the land while the tenant was away on vacation. Thereupon, the tenant, who had failed to pay the last two months rent as per the agreement, moved out. After closing, the owner refused to pay the tenant any of the sale proceeds, and the tenant brought suit to recover damages for breach of contract. Which of the following is the owner's most persuasive argument in defense of the tenant's suit?
category
law
options
- The tenant committed an uncured material breach of an implied promise to cooperate in the owner's efforts to sell the property, or at least not to hinder the proposed sale.
- The owner's decision to reduce the asking price without consulting the tenant was a breach of their agreement.
- The agreement between the owner and the tenant was voidable because it was a restraint on alienation, since it conditioned a promise to pay for a conveyance of land upon an otherwise invalid leasehold contract.
- The tenant failed to maintain the property in a presentable state for potential buyers, thereby breaching his responsibilities under the agreement.
- The tenant's failure to pay any rent for the last two months was a material breach of contract that discharged the owner's remaining duties of performance.
- The owner had no legal obligation to share the proceeds of the sale as the tenant had continued to live on the property rent-free for a year.
- The owner's agreement to pay the tenant was conditional upon the sale price exceeding $250,000, which it did not.
- The tenant's decision to farm the land was against the rental agreement and hence, a violation of the contract.
- The tenant's construction of the barn without the owner's explicit permission was a breach of the lease agreement.
- The tenant's negative comments about the farm to prospective buyers amounted to an anticipatory repudiation of the agreement between the owner and the tenant.
src
ori_mmlu-professional_law
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