Question
Sharma purchased an unbuilt condominium being built by Kennedy Development Inc. The contract outlined the details about the condominium including delivery date, which was June
Sharma purchased an unbuilt condominium being built by Kennedy Development Inc. The contract outlined the details about the condominium including delivery date, which was June 1. Construction of the condominium proceeded on schedule until March 15, when the whole development burned to the ground. After an investigation into the cause of the fire confirmed it was caused by lightening, Kennedy Development began to rebuild in July. It appeared that the condominium will be delivered about one year after the original date of delivery. Sharma is very annoyed as she has had to continue to pay rent for another year on her apartment and had to delay starting her own online business which she planned to operate out of her condominium.
Answer the following questions (12 points total, see breakout of points below):
- Is the original contract valid and enforceable? If not, why? Consider the necessary criteria to prove why the contract is not enforceable? (9 points)
- If the fire was the result of the negligence of Kennedy Development, would your answer to (a) be different and why? (3 points)
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