Since Elon officially backed out he's violating the contract, so he'd be the one paying $1b. But I strongly think that the SEC will force the sale through just to fuck him over.
Most contracts have performance provisions that allow a party to terminate. The $1B was IF nobody screwed up. He offered money for a certain item. They switched the item for a bag of steaming poo. He informs them that he was never in the market for a steaming bag of poo. Twitter violated the contract when they couldn't produce the product that they offered
Ooooooh, lawsuits?
Discovery?
Or Twitter coughs up a Billion.......
🤣🤣
Since Elon officially backed out he's violating the contract, so he'd be the one paying $1b. But I strongly think that the SEC will force the sale through just to fuck him over.
Most contracts have performance provisions that allow a party to terminate. The $1B was IF nobody screwed up. He offered money for a certain item. They switched the item for a bag of steaming poo. He informs them that he was never in the market for a steaming bag of poo. Twitter violated the contract when they couldn't produce the product that they offered