3. Sue Ellen's parents recently passed away and have left her property that she has decided to sell because she has no use for it. When she lists the property for $250,000, she receives a lot of
interest from potential buyers. One buyer approaches her and offers to pay only $175,000 for the
property. When Sue Ellen declines the offer, the buyer tells her that he has evidence that her
parents used this property to conduct illegal activities, and that he will reveal this to law
enforcement if she does not sell him the property for the price that he asks for. She agrees to sell
it to him for that price.
a. Is Sue Ellen's agreement to sell her parents' property at a lower price than she asked for void,
voidable, or binding? (1 point)
b. What makes this contract void, voidable, or binding? (1 point)