1. Kenneth made an offer to sell his car to Janeth, promising to keep the offer open for a week. However, he changed his mind, sold the car to someone else, and phoned Janeth to inform her that he was withdrawing his offer because he had sold the car to someone else. Janeth was angry and said that he wanted the car and was going to hold him to his promise to hold the offer open for a week. Janeth sued for breach of contract. Applying the relevant principle(s) discussed in the business law class, explain whether Janeth will be successful in the claim. 2. Chiu, a student at the George Brown College, had a one-year lease on a suite in a house owned by Ned. Ned sold the house to Jacob without telling Chiu about the lease. When Jacob discovered Chiu in the suite, he demanded that Chiu leave. Applying the relevant principle(s) of law, explain the rights of the parties in terms of privity of contract. 3. A liquidated damages clause will not always be effective. Explain. 4. Ending or discharging a contract Charles and his family live in Halifax. He was offered a good accounting position at Johnstone & Custer Ltd. in Vancouver. He agreed to take the job if the company could find his family suitable housing in the vicinity of the company. After two months, and having been presented with 17 different "suitable" houses, Charles declared that the condition to the employment contract had not been met. Does the firm Johnstone & Custer have any legal claim on the employment contract? 5. Explain the difference between a deposit and a down payment