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Kelly contracted to sell Bradshaw a load of Coal which both parties believed to be in a wharehouse at Newport West. Earlier the same day, there was a massive fire at the warehouse everything, including the coal was destroyed.

Kelly contracted to sell Bradshaw a load of Coal which both parties believed to be in a wharehouse at Newport West. Earlier the same day, there was a massive fire at the warehouse everything, including the coal was destroyed.

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Kelly contracted to sell Bradshaw a load of Coal which both parties believed to be in a wharehouse at Newport West. Earlier the same day, there was a massive fire at the warehouse everything, including the coal was destroyed.

 
This contract is void for mistake, as the subject matter is no longer in existence.
This contract is voidable for mistake as the subject matter is no longer in existence.
Kelly can sell Bradshaw at a later date.
The parties can renegotiate this contract.
Since the contract was already made, the payment cannot be recovered.
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