5.World Championship Wrestling contracts to sell its assets to Titan Sports Entertainment. Before either party has performed, they have second thoughts and decide that they do not want to go through with the purchase and sale.

• What should the parties do given that they have a contract? ( 5 points)
• Assume the same facts as above. However, World Championship Wrestling wants to go through with the sale, and Titan Sports doesnot. What are Titan Sports' Options? What are World Championship Wrestling's options? (5 points)