Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 3 (a) Michael, a New Zealand importer, had on 1.4.2011 contracted to buy 5,000 tonnes of rubber from Amin, who is a Malaysian, at
Question 3 (a) Michael, a New Zealand importer, had on 1.4.2011 contracted to buy 5,000 tonnes of rubber from Amin, who is a Malaysian, at the purchase price of RM590,900. However, Michael has just heard that the New Zealand Government had on 1,5,2011 made a law to prevent the import of any rubber. Michael had already on 1.4.2011 paid a deposit of RM50,000 to Amin, and had on 15.4.201] received the first batch of 1,000 tonnes of rubber from Amin. Michael is facing a problem because it will be unlawful for him to continue the contract with Amin in respect of the sale and purchase of the rubber, Advise the parties as to their liability under the contract. (15 marks)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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