Nancy owns two houses overlooking the Grand Sports Stadium. In 2001, Nancy leased one of the houses for a term of 15 years to Babu, a soccer fan who wanted to be able to watch soccer matches from the verandah overlooking the stadium. Nancy began to live in the second house. In January, 2013, Nancy made an agreement with Cama to let her own house for a week in February while she was away overseas, so that Cama could view the Melanesian Cup, which was to be held in the stadium that month. Cama paid Nancy $200 in advance. Just before the match was to be held, the stadium was destroyed by fire and the match was cancelled Discuss Cama’s rights and obligations under the contract using relevant cases
Nancy owns two houses overlooking the Grand Sports Stadium. In 2001, Nancy leased one of the houses for a term of 15 years to Babu, a soccer fan who wanted to be able to watch soccer matches from the verandah overlooking the stadium. Nancy began to live in the second house. In January, 2013, Nancy made an agreement with Cama to let her own house for a week in February while she was away overseas, so that Cama could view the Melanesian Cup, which was to be held in the stadium that month. Cama paid Nancy $200 in advance. Just before the match was to be held, the stadium was destroyed by fire and the match was cancelled Discuss Cama’s rights and obligations under the contract using relevant cases
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Nancy owns two houses overlooking the Grand Sports Stadium. In 2001, Nancy leased one of the
houses for a term of 15 years to Babu, a soccer fan who wanted to be able to watch soccer matches
from the verandah overlooking the stadium. Nancy began to live in the second house. In January,
2013, Nancy made an agreement with Cama to let her own house for a week in February while she
was away overseas, so that Cama could view the Melanesian Cup, which was to be held in the
stadium that month. Cama paid Nancy $200 in advance. Just before the match was to be held, the
stadium was destroyed by fire and the match was cancelled
Discuss Cama’s rights and obligations under the contract using relevant cases
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