1.Highway contractors Inc. owned and operated a number of gravel pits that it used as a source of supply for its highway construction projects. Evans, the company president, was always on the look-out for additional sources of supply and, while driving along a country road, noticed what appeared to be an odd-shaped formation on a farm property that he suspected might contain a quantity of gravel. He decided to purchase the farm in his own name and later transfer it to his company. He offered the owner of the property $350,000 for the land, and the farm owner agreed to sell the property. A purchase agreement was prepared and signed by the parties. Before the date for exchange of the deed and the money, the farm owner heard rumours that Evans was buying the farm because it contained a large amount of gravel. The property owner accused Evans of trying to steal her farm, even though the purchase price offered was slightly more than the value of most other farms in the area. The farm owner instructed her lawyer not to prepare the deed, and when Evans arrived at the farm gate, the farm owner refused him entry. Evans pointed to his brief case and said he had the money but the farm owner refused to sell the farm, and he returned to the city.

Discuss the rights and duties of the parties in this case. Render a decision.