COMM 393 Chapter Notes -Specific Performance
Document Summary
Saturleys enter into k with lunds to sell house for ,000. K is made june 2004 and completion is in august 2004. On july 23, 2004, lunds discover an oil leak in their house and consequently cannot sell their house until december. The financing from selling their house was needed to buy the saturley house. L says that the k is frustrated and therefore discharged. S says that the k is not frustrated and is breached and they are entitled to specific performance. The judge also said that the event did not render the contract impossible to perform as financing could have been arranged elsewhere. Legal principles: frustration exists when there is an event that is completely unforeseeable, that happens after the contract is made that makes the contract impossible to perform or radically different from that expected by the parties.
