Anthony wishes to start a business and his cousin offers him a loan of $10,000 at 4% interest to be repaid in two years. The loan amount, interest rate and repayment period are all put down in an email between Anthony and his cousin. Anthony soon takes steps to start his business by conducting market research, developing a business plan, choosing a business structure, registering his business and obtaining licenses and permits. However, his cousin fails to provide the funds and Anthony now must borrow from the bank at much higher commercial rates. Anthony wants to know whether he can sue his cousin for breach of contract. 1. To determine whether there is a breach of contract by Anthony’s cousin,

Anthony wishes to start a business and his cousin offers him a loan of $10,000 at 4% interest to be repaid in two years. The loan amount, interest rate and repayment period are all put down in an email between Anthony and his cousin. Anthony soon takes steps to start his business by conducting market research, developing a business plan, choosing a business structure, registering his business and obtaining licenses and permits. However, his cousin fails to provide the funds and Anthony now must borrow from the bank at much higher commercial rates. Anthony wants to know whether he can sue his cousin for breach of contract. 1. To determine whether there is a breach of contract by Anthony’s cousin,