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martyburbanklaw, Attorney
Category: Business Law
Satisfied Customers: 163
Experience:  Attorney with a post doctorate law degree (LLM) in tax
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Is consideration given in an offer to purchase

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Is consideration given in an offer to purchase agreement forfitted if the purchaser fails to perform under the purchase agreement?
Hello,
Thank you for requesting my assistance. Please tell me what state the purchase agreement was entered into in and explain the facts in more detail.
Customer: replied 9 years ago.
Offer made from Canadian company by fax and signed offer signed last in Alaska for acceptance of offer. Puchase agreement for aircraft purchase. Escrow held in Oklahoma with deposit of funds for consideration of offer.

If it is just earnest money or a deposit then that is likely forfeited, but if it was full consideration for the airplane that was not delivered then a significant proton should be returned.

Very respectfully,

Marty Burbank, JD, LLM

martyburbanklaw, Attorney
Category: Business Law
Satisfied Customers: 163
Experience: Attorney with a post doctorate law degree (LLM) in tax
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