What is the probable outcome of this civil litigation?

[simon c]

Let's say Jack and Bob are buyers and sellers. Jack wants to sell his house and Bob wants to buy it. They both write up a contract for sale and sign it but said the price will be set later. A week later Jack decides not to sell it and doesn't tell Bob.Bob takes jack to civil court. Who wins this case and why? Do they actually have a contract or since they didn't set a price so they don't? What are the legal principles? ------

[rickinnocal]

The contract is null and void because there was no"meeting of the minds".The most important part of a real estate contract is the price. With no price set there was no agreement, and the contract is void.Richard ------

[mj69catz]

It depends on stipulations in the contract. Usually the contract is"conditional"I would say that there isn't enough information here. ------

[raichasays]

What he said.Sales price is a material term of the contract. Without it, there is no contract.Unless someone is making the argument that they agreed on a"fair market value"to be determined later, or a"reasonable value"to be determined later.But you didn't say that.Oh, and there's a statute of frauds problem too. ------

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