1. X enters into a verbal agreement with Y to purchase Y’s farm for $150,000. X pays Y a deposit of $1,000 cash. What are X’s rights if Y later refuses to go through with the agreement?

2. How would your answer to the problem in question 1 differ if X refused to fulfill his part of the agreement?

3. A offers to buy B’s sailboat for $10,000, provided that he can obtain a loan of $5,000 from his banker.

A and B put the agreement in writing, but the agreement does not mention the loan. If A cannot borrow the $5,000, can B sue A for failing to comply with the agreement of purchase?

4. Alex agreed to purchase a used light aircraft for $180,000 (as is) from Aeroventure Aviation Company. On the day agreed for transfer, Alex appeared with his certified cheque for $180,000 and was met with an invoice for $207,000 being the price plus provincial sales tax and GST. Discuss the issues raised as a result.