Question
Kate enters into a valid, written contract with Lesley, a specialty automotive broker, pursuant to which Lesley agrees to locate a buyer for Kate's classic
Kate enters into a valid, written contract with Lesley, a specialty automotive broker, pursuant to which Lesley agrees to locate a buyer for Kate's classic 1967 Chevrolet Camaro. The car has a market value of $80,000, and the contract between Kate and Lesley requires Kate to pay Lesley 10% of the market value of the car (i.e., $8,000) if Lesley finds a buyer for the car. Before Lesley can find a buyer, however, Kate's car is stolen out of her garage. When Kate tells Lesley what happened, Lesley still demands that Kate must follow through with their contract and sues Kate for breach of contract. What is Kate's best argument that she is no longer required to perform under the contract?
Group of answer choices
The theft of the car constituted an accord and satisfaction of Kate's obligations under the contract.
The theft of the car caused a mutual rescission of the contract.
The contract is void because it is impossible to perform.
The contract is void because it's purpose has become frustrated.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started