Organic Farms Company contracts to buy two tracts of land from Prime Bottomland, Inc. Both parties believe that the two tracts are adjacent, but in fact they are not. Prime Bottomland is still willing to sell the land, but under these circumstances the deal would adversely affect Organic Farms.
Refer to Fact Pattern 15-B2. The parties' belief about the adjacency of the property is

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30-11-2022
Business

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Organic Farms Company contracts to buy two tracts of land from Prime Bottomland, Inc. Both parties believe that the two tracts are adjacent, but in fact they are not. Prime Bottomland is still willing to sell the land, but under these circumstances the deal would adversely affect Organic Farms.
Refer to Fact Pattern 15-B2. The parties' belief about the adjacency of the property is

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Tutorconsortium315 Tutorconsortium315 · Answer 1 · 2022-12-02T20:49:08+01:00

The parties' opinion that the properties are adjacent was voidable. Organic Farms Company as well as Prime Bottomland sign an agreement for the purchase of two land tracts.

What is purpose of a contract?

A legally enforceable arrangement among two or more individuals is referred to as a contract. Once this contract is signed, each party promises to uphold the rights and obligations outlined in it. In essence, every contract is built around a promise.

Why are contracts so important?

Legally binding agreements are practical tools for maintaining an effective business. Contracts providing business services provide the essential legal protections you need for any operation. In addition to lowering risk, contracts also protect you and your company by outlining your rights and duties in each agreement.

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