ASSIGNMENT 2 QUESTION: Zain had always wanted to buy a piece of commercial property to develop a large block of ats. He found a place along Perth's coastline at an attractive price and entered into discussions with the existing owner, Janice, who was keen on selling. Zain and Janice came to a verbal agreement regarding the purchase price. Janice said that if Zain didn't hear from her in the next few days, he should assume that she was ready to proceed with the deal. Zain contacted his solicitors to prepare the necessary documentation for the Contract of Sale of Real Estate. After waiting three days Zain rapidly began preparing the necessary nance facilities to develop the land. Zain had been waiting for an opportunity like this for a long time and knew the necessary channels to proceed quickly. Two days after talking with Zain, Janice receives a call from Douglas, who proposes to pay signicantly more than Zain's initial offer, although he was having trouble securing the nance. Janice, in need of a sale, informs Douglas that if he can get his nance together, she would convey the property to him. Janice is not condent in Douglas's ability to obtain the nance due to the tight credit market and thus says nothing to Zain, assuming it would take several weeks before Zain was ready to proceed. Zain forwards the relevant documentation to Janice regarding the sale of the land but she does not sign or return the documentation. Satised that he has done all that he needs to do, Zain commences on the initial phase of his constluction plans which included levelling the land and laying down the foundations. Several weeks pass and although Janice is aware of the construction work occurring on the land, she remains silent. At the end of this period Douglas manages to secure his nance and he contacts Janice, who agrees to sell the land to him. Janice then contacts Zain and tells him to remove his equipment because the sale is off. Janice claims they did not have a binding contract for sale as she did not sign the Contract of Sale of Real Estate documentation sent by Zain. Zain, is upset and wants to keep the property having expended considerable time and expense on this deal. He seeks your legal advise on the matter. Required: Advise Zain on whether he has any recourse in contract law? [Notez Statute law (s 34. Property Law Act I969 (WAD requires that any contract for the sale of real estate must be in writing and signed by person conveying the land] (3!) Marks) graph: Answer Structure: Students are required to use the IRAC legal problem solving format in answering this question. What is the Issue? What is the Relevant law? Apply the law to the facts: Conclusion