Contracts Keyed to Barnettback
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A landowner orally agreed to sell 100 acres of land to a buyer for $10,000. As a condition of the sale, the buyer agreed to pay $5,000 of the purchase price to the landowner’s creditor. The buyer’s attorney drafted the contract, which both the landowner and the buyer read before signing. The signed document made no reference to the payment to the landowner’s creditor, and neither party noticed the oversight.
Which of the following would be most important for deciding the creditor’s action against the buyer for $5,000?CorrectIncorrect
A plaintiff contended that a defendant owed him $6,000. The defendant denied that he owed the plaintiff anything. Tired of the dispute, the defendant eventually signed a promissory note by which he promised to pay the plaintiff $5,000 in settlement of their dispute.
In an action by the plaintiff against the defendant on the promissory note, which of the following, if true, would afford the defendant the best defense?CorrectIncorrect