Reference no: EM131727223

1. Cody signs and returns a letter from Deb, referring to Deb’s Double-D Ranch and its price. When Cody attempts to complete the deal, Deb refuses, claiming that they do not have a contract. Cody claims they do. What standard determines whether these parties have a contract? Read this question carefully: it is not asking for a solution to the factual situation between the parties. It is asking about the standard with which a court would start in attempting to solve this problem.

2. On May 1, Faith, a real estate agent, and Grace, a commercial property owner, sign an agreement under which Faith is to find a buyer for Grace’s office building. Under the terms, if a buyer makes a serious offer within sixty days, Grace must pay Faith’s commission. Faith puts signs on the building, ads in real estate pamphlets and a local newspaper, and features the property in a “walking” tour on the Internet. On June 1, Grace tells Faith that she is canceling their arrangement. Ten days later, Grace closes a sale on the building without Faith’s participation. Faith files a suit against Grace for the amount of her commission. In whose favor is the court most likely to rule and why?