Royalty homes inc agreed to convey to mr and mrs gould a, Ask an Expert

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Royalty Homes, Inc., agreed to convey to Mr. and Mrs. Gould a lot, Lot 15, in a planned subdivision, together with a one-year option to purchase a neighboring lot, Lot 16. The agreement did not contain any prohibitions on assignments. The Goulds paid the price of $40,000 and took title to Lot 15. Thereafter, the Goulds assigned their option right in Lot 16 to their daughter and son-in law, the Fredericks. Royalty Homes refused to convey Lot 16 to the Fredericks. The Fredericks then brought suit for specific performance. What would the result be and why?

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Financial Management, Finance

Category:- Financial Management
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