Posted by Tom-FL on September 14, 2004 at 23:30:27:
Seems to me you don’t have a real estate contract. You have a business contract.
Even at that, if there were a statute of limitations, it would be state specific.
I remember hearing that one of the things a contract must have in order to be enforceable is a specific term. If I agree to mow your lawn and you agree to pay me twenty dollars for that, the contract must say I will mow by Friday 9-17-04 and you will pay by Friday 9-24-04. In other words, I don’t have infinity to mow the lawn and you don’t have infinity to pay me.
So, if there is no term, there is no contract.
Check this thread: