1. X agreed to lease her automobile to Y for the month of July in return for the payment of $300. Before the end of June, X was involved in an automobile accident and the automobile was severely damaged. What are the rights and obligations of X and Y?
2. A agreed to purchase B’s snowshoes from him for $100 on the Saturday of the next week. On the specified date, A went to B’s home with 10,000 pennies and demanded the snowshoes. B refused to deliver them. Discuss the rights and obligations of the two parties.
3. A Canadian exporter sends goods to an importer in Phantasia. While the goods are at sea, the United Nations declares a trade embargo on Phantasia, and the ship is prohibited from entering Phantasian waters. What has happened to the contract between the Canadian and Phantasian business persons?
