Add a link
Add a video
The following section is to enter opinion authorship for each opinion part (concurrences, dissents, etc.).
Add an opinion part
Free text:
'''Facts''': Defendant held mortgage note against Plaintiff's property. Defendant offered to Plaintiff that he would accept a discounted payment in full on the mortgage. Plaintiff went to pay the discounted amount to Defendant. However, Defendant announced he sold the mortgage (before Defendant had a chance to make the payment), and that the offer was no more. '''Issue''': Can Defendant rescind the offer to accept a reduced mortgage payoff amount before Plaintiff had made the payment? '''Holding''': Yes--held for Defendant. '''Reason''': The unilateral offer for a lower payoff amount was not accepted until completed. '''Rule''': * To accept a unilateral offer, you must perform the act specified. * If revocation occurs prior to performance of the act, the power of acceptance of the unilateral contract is terminated.