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I'm not sure what you are asking. Are you asking if the bankruptcy affects the contract?
If he is no longer in bankruptcy at all then the second contract shouldn't be affected. However, if he is still "in the bankruptcy" and subject to the trustee then he wouldn't have been able to enter into the contract without the permission of the trustee and so it wouldn't be valid until the trustee (and the court) approved it.
If he is in the bankruptcy then the best option is to hire an attorney to go to the bankruptcy court and get the contract approved or else have the court void the contract entirely and relieve you of any obligations under it as well as clearing the title to the property at issue.