Magda is an artist. She entered into a contract with Karl under which she gave Karl the authority, for six months, to try to find a buyer for one of her paintings. After three months, Karl had not been able to sell the painting and offered to buy it himself. Magda and Karl entered into a contract under which Karl agreed to buy the painting for $5000. The contract provided that he would pay $1000 at the time the contract was signed and the balance within 30 days. After the expiry of 30 days, Karl did not pay the balance. Is Karl liable to Magda for breaching his obligations as an agent?