X and Y orally agree that X will buy Y's small apartment in town for the sum of R150 000. There is an e-mail trail that evidences the essential terms that have been orally agreed already. The parties agreed that they would reduce these terms to writing via e-mail just to have proof of the oral agreement.X would move in immediately, and pay the purchase price in a month's time, with occupational rent due for the first month.X thought that he had just closed a very good deal in his work and would soon receive some special income, but the deal did not materialize. In fact, it was impossible for X to pay the purchase price (he could also not obtain a loan) at the time of concluding the contract. However, he had orally guaranteed to Y that he will pay (in one month's time), which is also reflectedin an e-mail. When X's deal did not materialize, he accordingly moved out after a month, and claimed that there is no contract becausea contract does not expect you to perform the impossible and one also cannot guarantee something that isimpossible.

Advise Y. Remember to substantiate your assertions with reference to authority.