CONTRACT v. MOU K wants to sell his shares in a company to Y. K and Y thus entered into a Memorandum of Understanding (M

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Contract V Mou K Wants To Sell His Shares In A Company To Y K And Y Thus Entered Into A Memorandum Of Understanding M 1 (65.23 KiB) Viewed 29 times

CONTRACT v. MOU K wants to sell his shares in a company to Y. K and Y thus entered into a Memorandum of Understanding (MOU) which states that: 1) K and Y will sell and purchase the shares 2) on 14th Feb of that year with 3) the number of shares and 4) price/share being stated. The MOU, however, provides that Y is entitled to perform due diligence and the parties shall proceed with the closing if Y is satisfied with the result of due diligence and notifies K of its satisfaction in writing on or before 10th Feb. On 9th Feb, Y sent such satisfaction notice to K, but K refused to sell the shares. ... Q: If Y sues K, will y be able to make K sell the shares?