Tim buys a race horse from Patrick at a price of R100 000 which he duly pays. After three days, when Tim seeks delivery of the horse, it is established that the horse was already dead at the time of conclusion of the contract, which event the parties were not aware of.

Advise whether:

There is a valid and binding contract for the sale of the horse; ( 8) Tim can recover the purchase price of R100 000 paid for the horse and the basis for doing; (8) It would make any difference if Patrick was fully aware at the time of conclusion of the contract that the horse was dead. (8)