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MMLU-Pro / 1847 / On November 1, Beeson contracted to purchase from Sloan for …

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On November 1, Beeson contracted to purchase from Sloan for 250,000certainpropertylocatedintheCityofLaMirada.Inthecontractofsale,BeesonandSloanagreedthatthepropertywastobeusedforthepurposeofbuildingacommercialshoppingmall.ThecontractrequiredBeesontopaySloanadepositof250,000 certain property located in the City of La Mirada. In the contract of sale, Beeson and Sloan agreed that the property was to be used for the purpose of building a commercial shopping mall. The contract required Beeson to pay Sloan a deposit of 12,500, with the balance of the purchase price payable at closing a month later on December 1. On November 24, the city council rezoned the property so that it could be used only for single-family residential purposes. As a consequence, Beeson refused to honor the contract. Sloan now brings an action for specific performance arguing that the doctrine of equitable conversion places the loss on the buyer. Beeson argues that to enforce the contract would be harsh and oppressive to him. If judgment is for Beeson, it will most likely be because
Plain-text mathematical notation (without MathML)
On November 1, Beeson contracted to purchase from Sloan for 250,000certainpropertylocatedintheCityofLaMirada.Inthecontractofsale,BeesonandSloanagreedthatthepropertywastobeusedforthepurposeofbuildingacommercialshoppingmall.ThecontractrequiredBeesontopaySloanadepositof12,500, with the balance of the purchase price payable at closing a month later on December 1. On November 24, the city council rezoned the property so that it could be used only for single-family residential purposes. As a consequence, Beeson refused to honor the contract. Sloan now brings an action for specific performance arguing that the doctrine of equitable conversion places the loss on the buyer. Beeson argues that to enforce the contract would be harsh and oppressive to him. If judgment is for Beeson, it will most likely be because
Original LaTeX notation
On November 1, Beeson contracted to purchase from Sloan for $250,000 certain property located in the City of La Mirada. In the contract of sale, Beeson and Sloan agreed that the property was to be used for the purpose of building a commercial shopping mall. The contract required Beeson to pay Sloan a deposit of $12,500, with the balance of the purchase price payable at closing a month later on December 1. On November 24, the city council rezoned the property so that it could be used only for single-family residential purposes. As a consequence, Beeson refused to honor the contract. Sloan now brings an action for specific performance arguing that the doctrine of equitable conversion places the loss on the buyer. Beeson argues that to enforce the contract would be harsh and oppressive to him. If judgment is for Beeson, it will most likely be because

category

law

options

  1. legal title remained in Sloan.
  2. The property's value decreased substantially due to the rezoning.
  3. Sloan failed to disclose potential rezoning risks.
  4. Beeson had not yet paid the full purchase price.
  5. The contract was not legally binding.
  6. Sloan assumed the risk.
  7. equity will relieve Beeson of a bad bargain.
  8. Sloan would be unjustly enriched.
  9. The city council's decision was unforeseeable.

src

ori_mmlu-professional_law

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