What CASE LAWS do you know?

[Brandon Diaz]

My goal is to kick something up for all of us to learn something interesting. Lets explore what you know about court cases that you found to be interesting or learned, and summarizes the case to put all of us ahead of the game- collectively. 

Here is one: 

Case: Lucy v. Zehmer

Supreme Court of Virgina

https://en.wikipedia.org/wiki/Lucy_v._Zehmer

Summary: 

Guy writes on the back of a store receipt paper that they would sell their 400+ acre land for $50,000 and signed- later in court claiming it was a joke. The courts said that was a legal contract and forced the sale of the property.

Why is this important? 

Our purchase and sales agreements are stronger than we understand- even the simple one page documents with no earnest money. We all know about "buyers remorse" but a lot of also know that there is "sellers remorse" as well. 

Scenario: The sellers are backing out of the deal, but you have considerable amount of time, sometimes money, and investment emotion in a deal and all of a sudden... seller changes their mind? A judge would say different based on this case. Even if it was a joke, no earnest money, and only having 19 words written on it.

When to use?

Send this case to the seller so they can read the case for themselves to understand in the event that they are refusing to close. This could help them understand the situation a little better and bring your seller to closing.