8. Aziz listed his house for sale for $455,000. Karl toured the house, loved it, and signed a purchase offer contract on May 15, which included the following "this contract is subject to the buyer obtaining a market value mortgage within 30 days of the execution of this contract." It also stated that the closing was to take place 60 days from the signing, on July 15. On June 10 (within 30 days) Carl sent Aziz an email stating that he had obtained the mortgage. On July 6 Karl sent Aziz another email stating "I lost my job! I will not be able to buy the house. I deeply, profoundly, and unequivocally apologize." On July 7, after speaking with his lawyer, Aziz wrote back "I am afraid that constitutes a 'you' problem. I hope to see you at the closing on July 15, with all the funds. On July 15, Aziz showed up at the closing with a deed, but Karl was a no-show. On July 16, Aziz re-listed the house as "for sale" and he subsequently sold it for $420,000.

a. On what date did Karl breach the contract? Explain.

b. What is the two-word term for this situation?

8b.

c. What is theearliestdate that Aziz could have brought suit against Karl? Explain.

8c.

d. What is the amount of damages that Aziz can sue for? Explain

8d.

e. What defense is available to Karl, if any? Explain