Comment by dylan604
2 days ago
Hmm, if I refuse to pay my car note, they repossess it. If you fail to pay taxes, the gov't places a lien on the property. Can the family that never received payment put a lien in place instead? That would prevent the $10million sale. That'd get someone's attention
The thing is it's just a promise. If it would actually torch the deal to not hand over the $10, you can do it at any time. But the court agreed that it was just a fiction. Presumably if you didn't pay the option price, which may not have been specified directly in the contract, or was in some other exhibit, the deal never happened. But this technicality of consideration is not the same thing.