Basically, I need to know about the legality of a contract that will not be enforced until sometime in the future, after an event – date uncertain.
Not entirely hypothetical: I own a lot between my house and my neighbor’s house and someone wants to buy it. My neighbor doesn’t want me to sell and I don’t want to piss him off, he’s a nice guy. I’m willing to wait until my neighbor either sells his property, moves away, or dies.
Can I make an agreement with my buyer that says I’ll sell to him when my neighbor is no longer in the picture? The buyer is willing to wait. He’s in no hurry to acquire the lot – he wants it badly but he’s in no hurry. I’d also be promising not to sell the lot to anyone else. But because there’s no way to know when my neighbor will be gone, I’m wondering if such an agreement is enforceable.
Also, if the buyer were to change his mind about buying the lot, that’d be fine with me. He wants it more badly than I want to sell it.