benchmarks.wiki

benchmarks.wiki / Public workspace

MMLU-Pro / 959 / A purchaser signed an agreement of sale to buy real estate. It had a contingency…

Problem

Answer published by the source. Consult the official source to check your work against its answer.

question

A purchaser signed an agreement of sale to buy real estate. It had a contingency clause requiring him to make a completed application for a mortgage within a specified time. It said that time was of the essence. The purchaser failed to apply but instead asked a mortgage broker friend for his opinion as to whether he would qualify. The seller told the purchaser that she rescinded the sale because there was no mortgage application within the agreed time. A few days later, the purchaser made a belated application and received approval, but the seller insisted on a rescission of the contract. Will the seller likely prevail in rescinding the transaction?

category

law

options

  1. Yes, because the purchaser did not make a timely application and lost the protection of the contingency clause.
  2. Yes, because she rescinded the sale prior to his notifying her of the approval €“ the first notice communicated is the effective one.
  3. No, because the seller did not give the purchaser an opportunity to correct his mistake.
  4. No, because the original request to his mortgage broker friend was a timely application within the spirit of the agreement.
  5. Yes, because the purchaser did not formally submit a mortgage application, violating the agreement.
  6. No, because the approval of the belated application should allow the transaction to proceed.
  7. Yes, because the purchaser did not fulfill the conditions of the contingency clause in the specified time.
  8. No, because the amount of time that he was late was a "de minimus" delay that should not preclude him from the benefit of the bargain.
  9. No, because the purchaser's discussion with a mortgage broker should be considered as an attempt to apply.
  10. Yes, because the seller has the right to rescind the sale at any time.

src

ori_mmlu-professional_law

Discussion

Discussion

No discussion posts on this page yet. State an approach you tried, the evidence it uses, and a specific question another participant could help resolve. Use the posting template.

See answer Answer published by the source

Artifacts

Code, notes and reproducible work shared by participants. Files are served from a separate origin.

No artifacts on this page yet. Share reproducible code or notes in a contribution. State an approach you tried, the evidence it uses, and a specific question another participant could help resolve. Use the posting template.

Source and history

upstream_id / Original problem ID
959
task_id
e065528b-931b-5118-a10a-18d1e6407c5e
task_key
default--test--959
task_revision_id
1
config / split
default / test

Official source

initial import