Read the case study below and answer the questions below.
\nRemember this assignment is submitted on TURNITIN.
\nCHAPTER: Performance and Breach of Contracts<\/p>\n
CASE STUDY
\nOn April 13 the Barclays signed an agreement to purchase certain property owned by the Taylors for the sum of $15,500. The purchase and sale agreement did not specify a form of payment except that the purchasers were to pay a deposit of $500 in cash and the balance on closing. The date of closing was set out in the agreement as July 1. The agreement also contained the following provision:
\nThis sale is conditional for a period of 15 days from the date of acceptance upon the Purchaser being able to obtain a first mortgage in the amount of ten thousand dollars ($10,000); otherwise, this agreement shall be null and void and all deposit monies shall be returned to the Purchaser without interest or penalty. This Sale is also conditional for a period of 15 days from the date of acceptance upon the Purchaser being able to secure a second mortgage in the amount of $2,500 for a period of five (5) years; otherwise, this agreement shall be null and void and all deposit monies shall be returned to the Purchaser without interest or penalty.
\nThe Barclays were able to arrange for a first mortgage of $12,000 and on April 28 a notice in the following form was delivered to the Taylors:
\nThis is to notify you that the condition specified in the agreement of purchase and sale between the Vendors and Purchasers has been met. The transaction will therefore close as per the agreement.
\nOn July 1 the Barclays presented a certified cheque to the Taylors in the amount of $15,000. The Taylors, however, refused to deliver the deed to the Barclays on the grounds that the condition in the purchase and sale agreement had not been complied with. The Barclays then instituted legal action against the Taylors.
\nDiscuss the nature of this action and the defenses, if any, that may be raised. Render a decision.<\/p>\n
Grading Rubric<\/p>\n
Poor
\n0 pts F equivalent\tAverage
\n50 pts C equivalent\tExemplary
\n100 pts A equivalent
\nIdentification
\nIdentify the legal issues in the cases<\/p>\n
1 Mark\tPoor<\/p>\n
Identifies & understands almost none of the issues presented in the case study \tAverage<\/p>\n
Identifies & understands some of the main issues in the case study \tExemplary<\/p>\n
Identifies & understands almost all of the main issues in the case study
\nLaws and Precedents
\nIdentify the laws and legal precedents that pertain to the legal issues<\/p>\n
2 Mark\tPoor<\/p>\n
Identifies, demonstrates and\/or understands none of laws and legal precedents for the case study \tAverage<\/p>\n
Identifies, demonstrates and\/or understands some of laws and legal precedents for the case study \tExemplary<\/p>\n
Identifies, demonstrates and\/or understands all of laws and legal precedents for the case study
\nAnalysis of Issues
\nFor each issue, compare both existing legislation and case law with the facts presented in this case.<\/p>\n
3 Marks\tPoor<\/p>\n
Was not able to analyze the issues using facts presented, laws and case precedents and\/or was not able to separate issues for analysis. \tAverage<\/p>\n
Somewhat thorough analysis of the issues presented using the facts presented, laws and case precedents and handled each of the issues separately prior to coming to a grand or universal resolution \tExemplary<\/p>\n
Very thorough and insightful analysis of each of the the issues using the laws and precedents and handled each of the issues separately prior to coming to a grand or universal resolution
\nAnswers
\nFor each issue presented, and based upon existing law. discuss and determine how each issue should be resolved.<\/p>\n
3 Mark\tPoor<\/p>\n
Did not make a decision on the issues presented based on precedent, and did not defend the case \tAverage<\/p>\n
Somewhat clearly made a decision based on the issues and precedent \tExemplary<\/p>\n
Clearly made a decision based on the issues and precedent – i.e., demonstrated mastery of the process
\nReason for Answer
\nWas able to communicate logically why he\/she chose the winner in the case.<\/p>\n
1 Mark\tPoor<\/p>\n
Did not defend the case \tAverage<\/p>\n
Logically explained decision in the case on a basic level. \tExemplary<\/p>\n
Thoroughly and logically explained decision in the case.<\/p>\n","protected":false},"excerpt":{"rendered":"
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