BUS 2320 Lambton College Performance & Breach of Contracts Case Study

Assignment # 2GB-4 BUS2320
Instructor: Sobia Hussain
sobia.hussain@canadahanson.com
Worth: 5 %
Marks: 10 Marks
Read the case study below and answer the questions below. Your answer MUST be typed in MS Word,
double-spaced in font style and size Calibri and 11.
DONOT copy your answers from ANY OTHER source including your friends. Plagiarized work is ZERO.
Remember this assignment is submitted on TURNITIN.
CHAPTER: Performance and Breach of Contracts
CASE STUDY
On 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:
This 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.
The 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:
This 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.
On 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.
Discuss the nature of this action and the defenses, if any, that may be raised. Render a decision.
Grading Rubric
Poor
0 pts F equivalent
Identification
Identify the legal issues in the cases
1 Mark
Laws and Precedents
Identify the laws and legal precedents
that pertain to the legal issues
Average
Exemplary
50 pts C equivalent 100 pts A equivalent
Poor
Average
Exemplary
Identifies &
understands almost
none of the issues
presented in the case
study
Identifies &
understands some
of the main issues
in the case study
Identifies &
understands almost
all of the main
issues in the case
study
Poor
Average
Exemplary
Identifies,
demonstrates and/or
understands none of
Identifies,
demonstrates
and/or
Identifies,
demonstrates
and/or understands
2 Mark
Analysis of Issues
For each issue, compare both existing
legislation and case law with the facts
presented in this case.
3 Marks
Answers
For each issue presented, and based
upon existing law. discuss and
determine how each issue should be
resolved.
3 Mark
Reason for Answer
Was able to communicate logically
why he/she chose the winner in the
case.
1 Mark
laws and legal
precedents for the
case study
understands some
of laws and legal
precedents for the
case study
all of laws and legal
precedents for the
case study
Poor
Average
Exemplary
Was not able to
analyze the issues
using facts
presented, laws and
case precedents
and/or was not able
to separate issues for
analysis.
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
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
Poor
Average
Exemplary
Did not make a
decision on the issues
presented based on
precedent, and did
not defend the case
Somewhat clearly
made a decision
based on the
issues and
precedent
Clearly made a
decision based on
the issues and
precedent – i.e.,
demonstrated
mastery of the
process
Poor
Average
Exemplary
Did not defend the
case
Logically explained
decision in the
case on a basic
level.
Thoroughly and
logically explained
decision in the
case.