Delaware.
Dear Sir:
I have your letter of December 12th offering to sell to me the property that we have been discussing for $15,000 of which $3,000 is to be in cash, $5,000 to remain on three-year mortgage at six per cent., and the remaining $7,000 to be cared for by the present mortgage in that amount and which I understand has four years yet to run.
I accept your offer as stated by you, with the provision of course that I shall receive a clear and marketable title, insurable by a real estate title company, and that all taxes shall be adjusted as of the day of settlement, which settlement is to take place three months from to-day. If you will have a contract of sale drawn, I shall execute it and at the same time hand you my check for five hundred dollars as the consideration for the contract of purchase.
This letter is written in the assumption that the dimensions of the property are such as have been represented to me.
I am
Very truly yours,
Martin Fields.
(Note—The above letter replying to an offer to sell would of itself close the contract and the formal contract of sale is unnecessary. A contract is, however, advisable because it includes all the terms within a single sheet of paper and therefore makes for security.)
Letter inquiring as to what may be had