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Jones signs a contract with victor. The contract is to buy victors house for 150k. within...

Jones signs a contract with victor. The contract is to buy victors house for 150k. within the contract there is a clause that states, if I am able to obtain a mortgage loan for 150k at 7 percent payable over 15 years. Assume jones try’s but is unable to get such a loan. Proceeds to not go through with contract. Jones is in breach of contract.

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No, in this case Jones is not in breach of the contract because the contract has a conditional clause in which it is clearly mentioned that if he is able to get a loan of 150K with mortgage at 7 percent rate of interest and the amount is payable over 15 years. This is a clause and even after trying Jones is unable to fulfill the cluad end hence the contract is terminated and there is no breach of contract as this is documented in the contract clearly and agreed upon by the stakeholders.

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