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Athena Wisdom, a client, entered into a contract to purchase a townhouse in Parramatta from Bryce Hall. She paid a 10% deposit and the balance was due on 7 March 2022. However, the vendor changed his mind and refused to complete the contract. This caused further costs for Athena, including rent and mortgage loan fees. Despite legal notices from Ingrid Spencer, the vendor still refuses to complete, resulting in a breach of an essential contract term. Athena seeks advice on remedies and instructs Ingrid Spencer to terminate the contract, as she wants the property. With this case, A contract may be a simple contract or a formal contract. A formal contract is a contract made by deed (i.e., one 'under seal' which means signed sealed and delivered). Any other contract is classified as a simple contract. A contract for sale of land must be evidenced in writing and signed, but it need not be signed under seal. A contract for sale of land is a simple contract. • Locate and access Part 2 Division 2 Limitation Act 1969 (NSW). Explain the limitation period for a simple contract. That is, if Athena chooses to sue for damages for breach of contract, within what time period must she commence her action?
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