Joey Runner sold the boat "Purple Rain" to John Tate for $120,000 on April 1, and their contract contained a term stating "the purchaser is entitled to get his money back and to return Purple Rain if he is unable to enter the boat in Swiftsure Yacht Race ("the Swiftsure") within one year after the date of the purchase." Tate intended to race Purple Rain as soon as possible. However, due to the Covid 19 pandemic the Swiftsure has been cancelled for 2021. After Tate hears the Swiftsure has been cancelled, Tate approaches Runner and insisted he take back the yacht and give Tat his money back. Runner retorted that he would not take the yacht back because the fact that is can't be raced in the Swiftsure had nothing to do with him. Tate commenced a court action against Runner.

Contract Law