BUSINESS LAW
Computers, Inc. (Computers) and Management Enterprises Company (Management) agreed that Computers would sell Management its computing business, including the land on which the business was situated, for $600,000. Both Computers and Management knew at the time the contract was formed that the business and land were actually worth $1,000,000. Is this a valid enforceable sales contract?
A. No, because Computers would not have agreed to sell the business for 40% less than its value unless it was under duress by Management to sell.
B. No, because $600,000 is not valid consideration for a business worth $1,000,000.
C. Yes, provided the contract was
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