BUSINESS LAW AND ETHICS
Dr. Albert has for some years run a clinic offering free medical care to impoverished families. The clinic occupies a house owned by Ms. Cade and leased from her on a month-to-month basis. On May 1 2013, Dr. Albert met with Ms. Cade to ask if she would like to sell him the house. "I'd consider selling it for RM200,000," she replied.
"I think that I can raise RM200,000 if you give me six months," said Dr. Albert. "But I will need to show potential donors proof that I can buy the house at that price."
"I'll be glad to help on that count," smiled Ms. Cade. "I have a soft spot for your clinic, you know." She gave Dr. Albert a signed note reading as follows:
In return for all that Dr. Albert has done for our community, I hereby promise that if he delivers RM200,000 to me at any time between now and November 1 of this year, I will give him title to the building that houses his clinic.
Dr. Albert thanked Ms. Cade, took the note, and set to work raising the required money. In the meantime, real estate prices soared. On September 1, Ms. Cade told Dr. Albert that she was putting the house on the market. "I've raised RM180,000 and will have the rest soon!" he insisted.
On October 1, Dr. Albert proudly presented Ms. Cade with a check for RM200,000 and requested the title to the clinic building. With some embarrassment, she told him that she no longer held the title. "I just sold the house for RM350,000."
Advise Dr. Albert's rights as against Ms. Cade under the law of
"I think that I can raise RM200,000 if you give me six months," said Dr. Albert. "But I will need to show potential donors proof that I can buy the house at that price."
"I'll be glad to help on that count," smiled Ms. Cade. "I have a soft spot for your clinic, you know." She gave Dr. Albert a signed note reading as follows:
In return for all that Dr. Albert has done for our community, I hereby promise that if he delivers RM200,000 to me at any time between now and November 1 of this year, I will give him title to the building that houses his clinic.
Dr. Albert thanked Ms. Cade, took the note, and set to work raising the required money. In the meantime, real estate prices soared. On September 1, Ms. Cade told Dr. Albert that she was putting the house on the market. "I've raised RM180,000 and will have the rest soon!" he insisted.
On October 1, Dr. Albert proudly presented Ms. Cade with a check for RM200,000 and requested the title to the clinic building. With some embarrassment, she told him that she no longer held the title. "I just sold the house for RM350,000."
Advise Dr. Albert's rights as against Ms. Cade under the law of