Contracts Keyed to Epstein
Board of Control of Eastern Michigan University v. Burgess
The Board of Control of Eastern Michigan University (Plaintiff) and Burgess (Defendant) were involved in negotiations to sell Defendant’s home to Plaintiff. The parties considered a contract granting Plaintiff a 60-day option to purchase the home. Defendant then signed a document providing for this option agreement, which acknowledged receipt of one dollar and other valuable consideration. However, no consideration was provided. Plaintiff later notified Defendant that it intended to exercise this option, but Defendant refused to sell the home.
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