On March 1, Green and Brown orally agreed that Brown would erect a boathouse on Green's lot and would dig a channel from the boathouse across Clark's lot to a lake. Clark had already orally agreed with Green to permit the digging of the channel across Clark's lot. Brown agreed to begin work on the boathouse on March 15, and to complete all the work before June 1. The total price of $10,000 was to be paid by Green in three installments: $2,500 on March 15, $2,500 when the boathouse was completed, and $5,000 when Brown finished the digging of the channel.Assume that Green paid the $2,500 on March 15, that Brown completed the boathouse, that Green paid the second installment of $2,500, and that Brown completed the digging of the channel but not until July 1. Assume further that the absence of a writing is not raised as a defense. Which of the following is/are correct? I. Green has a cause of action against Brown for breach of contract. II. Green is excused from paying the $5,000.
I only II only Both I and II Neither I nor I