Question
Justin Beaver was walking down a street in Vancouver when he saw a house with a piece of Banksy (a famous and anonymous graffiti artist)
Justin Beaver was walking down a street in Vancouver when he saw a house with a piece of Banksy (a famous and anonymous graffiti artist) art on the exterior wall. Justin just had to have the art so he had his lawyers draw up a contract for the purchase of the home, which included the following clause:
Primary Purpose of Sale: Banksy Art
The primary purpose of the Purchase is to transfer ownership of the graffiti art located on the external East-facing wall of the Home from the Seller to the Purchaser. The Purchaser acknowledges that transfer of such ownership is not possible without a corresponding transfer of the Home.
There was no clause dealing with "frustration". The parties signed the contract and a closing date (when the actual ownership of the home and the art would be transferred) was set for a month away. Justin provided the seller with a deposit of $500,000 upon signing the contract. In the intervening time before the closing, a self-driving car slammed into the East-facing wall of the Home, destroying the wall, along with the Banksy graffiti art.
Which of the following is correct:
Group of answer choices
a)The very basis of the contract has been destroyed, so the contract is likely frustrated.
b)This was self-induced frustration and therefore will be considered a breach of the contract.
c)Justin should have known it was reasonably foreseeable that a car would hit the wall, so the contract should have provided for it expressly and what would happen those circumstances.
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