ETH 321 OUTLET Imagine Your Future /eth321outlet.com ETH 321 OUTLET Imagine Your Future /eth321outlet. | Page 13

Which of the following is true in cases where only one party drafts the
contracts that contain terms that appear vague and ambiguous to the o
ther party?
•
The court will interpret the ambiguous and vague terms against the pa
rty that drafts them.
•
The court will declare the drafting party’s behavior as a tort due to inte
ntional ambiguity of terms.
•
The court will interpret the terms as they mean in the common langua
ge.
•
The court will reject the non-
drafting party’s attempt to reinterpret the terms after the contract has b
een signed.
Myra offers to sell her home to Hanna for “about $100,000 plus closin
g costs.” Hanna accepts Myra’s offer, but later a dispute arises concer
ning the precise dollar amount of the purchase price. How will a court
resolve this dispute?
•
The court will appoint a licensed real estate appraiser to determine the
price to be paid by Hanna.
•
The court will require Hanna to pay the average of her price and Myra
’s price.
•
The court will declare the purchase price and terms too indefinite to cr
eate a binding contract.
•
The court will determine a reasonable price to be paid by Hanna.