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Identify the IRAC which is Issue, Rule, Analysis, and conclusion please Alberto...

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Finance

Identify the IRAC which is Issue, Rule, Analysis, and conclusion please

Alberto Corelli offers to pay $2,500 to purchase a painting titled Moonrise from Tara Shelley, an artist whose works have been causing a stir in the art world. Shelley accepts Corellis offer. The arrangement is for Shelley to deliver the painting to Corellis gallery in two weeks. Corelli has already arranged to sell the painting to a third party for $4,000 (a $1,500 profit), but it must be available for the third party in two weeks, or the sale will not go through. Shelley knows this but does not deliver the painting at the time promised. Corelli sues Shelley for $1,500 in damages. Shelley claims that performance was impossible because her mother became seriously ill and required Shelleys care.

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