Landover, the owner in fee simple of Highacre, an apartment house property, entered into an enforceable written agreement with VanMeer to sell Highacre to VanMeer. The agreement provided that a good and marketable title was to be conveyed free and clear of all encumbrances. However, the agreement was silent as to the risk of fire prior to closing, and there is no applicable statute in the state where the land is located. The premises were not insured. The day before the scheduled closing date, Highacre was wholly destroyed by fire. When VanMeer refused to close, Landover brought an action for specific performance. If Landover prevails, the most likely reason will be that
the failure of VanMeer to insure his interest as the purchaser of Highacre precludes any relief for him. the remedy at law is inadequate in actions concerning real estate contracts and either party is entitled to specific performance. equity does not permit consideration of surrounding circumstances in actions concerning real estate contracts. the doctrine of equitable conversion applie
Question: Landover, the owner in fee simple of Highacre, an apartment house property, entered into an enforceable written agreement with VanMeer to sell Highacre to VanMeer. The agreement provided that a good and marketable title was to be conveyed free and clear of all encumbrances. However, the agreement was silent as to the risk of fire prior to closing, and there is no applicable statute in the state where the land is located. The premises were not insured. The day before the scheduled closing date, Highacre was wholly destroyed by fire. When VanMeer refused to close, Landover brought an action for specific performance. If Landover prevails, the most likely reason will be that
A. the failure of VanMeer to insure his interest as the purchaser of Highacre precludes any relief for him.
B. the remedy at law is inadequate in actions concerning real estate contracts and either party is entitled to specific performance.
C. equity does not permit consideration of surrounding circumstances in actions concerning real estate contracts.
D. the doctrine of equitable conversion applie
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