Question 1 (40 marks)

Outline and explain in detail each of the basic elements that must be present in making a valid and binding contract; and making distinctions between these elements and related concepts, for example, invitations to treat, counter offer, etc. (In about 80 - 200 words each) Question 2 (30 marks)

Specific Performance is a remedy that the law only gives to a party under special conditions. Please outline the circumstances under which a party may ask, and get, an order for specific performance. State the principles of law that apply. (In about 200 - 400 words) Question 3 (30 marks)

Cindy agreed to sell to Paul her property at the Pandora Condominium. Paul signed a Sale and Purchase Agreement for the property (issued by Cindy's lawyers) and paid a deposit of 5% to Cindy. Paul then started sourcing for a bank to finance his purchase. In the meantime, the market prices of units at the Pandora Condominium shot up unexpectedly.

Paul has found a bank to finance his purchase, and he wants to proceed with his purchase of Cindy's property on the 21st storey. Cindy refused to go through with the sale to Paul, because she had received a much higher offer for her unit.

However, Cindy states that her neighbour on the second storey was selling his unit at the same price as that agreed between Cindy and Paul, and Cindy offered to secure that deal for Paul with her neighbour.

Paul wants to sue Cindy. What would be a sufficient remedy for Paul? Apply the law of contract to the facts. Then apply the law of remedies that would assist Paul, and outline the remedy or remedies that he may seek from the Court. Guidance Notes

1. Submit your assignment in the form of a single MS Word file on or before the cut-off date shown above. 2. Please use one of the following fonts: (a) Palatino Linotype (b) Arial (c) Calibri

3. Font size must be 12. 4. The document must be in double-spaced lines.

GSP165 Tutor-Marked Assignment SIM UNIVERSITY Tutor-Marked Assignment – Page 4 of 4

5. The best answers to this TMA will be the ones that offer original, thoughtful ideas and arguments. 6. You must use proper referencing and citation formats, where necessary.

7. Remember to use accurate grammar, correct sentence structures and a tone appropriate to academic writing.