A Raymond, who owns a fruit store, enters into a contract with Shondra to purchase from her a load of bananas. Currently the bananas are being shipped to Toronto. Raymond and Shondra are unaware that the bananas spoiled along the way because of a fire on the ship and were destroyed. Raymond and Shondra included a clause in their agreement that if the bananas were destroyed by rain or hail, the contract would be terminated due to frustration. Assume the subject matter of the contract, the load of bananas, ceased to exist before the parties entered into their agreement. Is there a valid contract? Explain. (3 marks) 2. Assume the bananas spoiled after the contract was entered into and that Raymond paid Shondra a deposit of $10,000 at the time they entered into the contract. Please answer the following questions: Would it be a valid contract? Explain. (1 mark) il. If this is a valid contract, do the parties have any remedies? Who will bear the loss of the $10.000 deposit? Explain. (4 marks) B You are so excited because you have finally saved up enough money to invest in your very first home. You find the perfect home for a good price and you decide to go for it. Once you move it, however, you discover that the house has major structural issues and the foundation is shifting. The cost to repair the problem will be $80,000. You are very surprised because, before you purchased the home, your real estate agent told you that there were no structural issues with the home. Assume your agent was not aware of the structural issues but the sellers were aware. Your agent also told you that she thinks the house was once lived in by a famous actress. Being an aspiring actress yourself, you thought this was good sign and would inspire you to continue with your acting dream. After you moved in, you discovered that the house was never inhabited by a famous actress. Are any of the two statements made by your real estate agent misrepresentations? If so, what kind are they and what are the remedies available? In your analysis, please include the definition of a misrepresentation and discuss whether either of the statements made by your agent meet the requirements of misrepresentation. Definition of misrepresentation (2 marks) Analysis of first statement (statement regarding structural issues) and remedies (3 marks) Analysis of second statement (statement regarding famous actress) and remedies (2 marks)