Does an exercise of an option in a real estate transaction constitute a binding contract?
MultiRegion, United States of America
The following excerpt is from Tavarua Rests., Inc. v. McDonald's USA, LLC, Case No. 19cv21-MMA (LL) (S.D. Cal. 2019):
therefore "constituted a timely, effective exercise of the option and gave rise to a binding contract of purchase." Wentcher v. Busby, 98 Ill. App. 3d 775, 783 (1981).
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