Sharon has contracted with Craig to buy Craig's car. She has agreed to pay $5,000 in cash in exchange for the title and registration for the vehicle. Sharon and Craig agree to meet at 10 a. m. on Wednesday to exchange their consideration. Unfortunately, Craig dies Tuesday evening. a) the contract automatically terminates due to impossibility caused by craig's death. b) the contract automatically terminates due to impracticability caused by craig's death. c) the contract is still valid and craig's heirs must go through with it based on the agreed terms. d) the contract is still enforceable; however, craig's heirs may renegotiate the terms because they are now the owners of the car.

Question

Business

Krystan

12 June, 18:12

Sharon has contracted with Craig to buy Craig's car. She has agreed to pay $5,000 in cash in exchange for the title and registration for the vehicle. Sharon and Craig agree to meet at 10 a. m. on Wednesday to exchange their consideration. Unfortunately, Craig dies Tuesday evening. a) the contract automatically terminates due to impossibility caused by craig's death. b) the contract automatically terminates due to impracticability caused by craig's death. c) the contract is still valid and craig's heirs must go through with it based on the agreed terms. d) the contract is still enforceable; however, craig's heirs may renegotiate the terms because they are now the owners of the car.

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Answers (2)

Know the Answer?

Monteen · Answer 1

Answer: C

The contract is still valid and Craig's heirs must go through with it based on the agreed terms

Explanation:

Since the contract is not for a specific service to be rendered by the deceased, then the details of the contract still stands. In some cases, the contract specifies what happens if one of the parties dies. But if the contract is less specific, its privileges and obligations may pass to another party, and sometimes even descend to the deceased's heirs.

Manning · Answer 2

c) the contract is still valid and craig's heirs must go through with it based on the agreed terms.

Explanation:

Craig died before he could execute the contract with Sharon to sell his car.

The contract between Sharon and Craig is not one that is for unique personal services so the heirs can still execute the contract. So the deal will be conclude by his heirs.

For unique personal services that can only be performed by Craig however the heirs would have not been bound to perform the contract as nobody but Craig would have been able to execute it.