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Answer :
Final answer:
The contract between Linda and Zeke is an executory contract, but it's potentially unenforceable because the price hasn't been determined. Delivery of possession is usually done through deed transfer, not just vacating the property. The contract is partially formed and requires further negotiations to be enforceable.
Explanation:
In terms of contract law, the agreement made between Linda and Zeke is called an executory contract. Since the property has been specified and the date for delivery has been established, it meets two necessary elements: agreement and consideration (the exchange of something of value, in this case, the property). However, the absence of a determined price and consequentially the absence of a well-defined consideration makes the contract potentially incomplete or unenforceable. The price is an essential term in a contract for the sale of property.
Furthermore, it is worth noting that the delivery of possession of real estate usually comes in the form of deed transfer, and not just vacating the premises.
Conclusively, it can be deemed that Linda and Zeke's contract is partially formed, and further negotiations or additions to the contract are needed to fully solidify and enforce the terms of sale.
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