Jones and Mega Corp. enter the following written contract: Jones agrees to purchase a store owned by Mega Corp. for $1 million, subject to Chase Bank's approval of Jones' application for a loan of $800,000. Chase Bank does not approve Jones' loan application. As a result,

1. Jones has breached the contract
2. This was not a valid contract
3. The contract is discharged
4. Jones must assign his contract rights to Chase Bank