Lou Greenidge made an offer to buy a house from Tony Umberto conditional on his
being able to arrange financing. Shortly after making the offer, Lou began to regret his decision and so made no attempts to seek the financing.
On the day that the conditional offer expired, Lou advised Tony that he had been unable to obtain the financing and so there was no longer a valid agreement. Which of the following is correct?
A) Lou did not take reasonable steps to arrange the financing
B) The agreement will be enforceable against Lou
C) Lou had an obligation to act in good faith in seeking to arrange the financing
D) B and C
E) All of the above
E
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