Cyril made two contracts. The first was to have his house painted one month from the
date of the written contract. The second was for his neighbor’s 1957 Ford Thunderbird.
Each contract was definite and clear in all respects. As to the house painting, Cyril
inquired with the painter as to when the work could begin. The painter explained that he
was extremely busy and was not sure if he could fulfill the contract. Cyril flew into a
rage and immediately hired someone else who painted the house, but at a higher price.
Cyril then sued the painter, claiming that there was an anticipatory repudiation of the
contract by the painter.With regard to the automobile purchase contract, after signing
the contract, the neighbor decided that she did not wish to sell her car and refused to
complete the transaction. Cyril attempted to purchase a similar car elsewhere, but the
car was a vintage automobile which was not available on the open market. Cyril sued
the neighbor for specific performance of the contract. Discuss the probable outcomes of
the lawsuits.
Upon the debtor’s default, the creditor may sell the collateral at a public or private sale,
or lease it to a third party.
Donna called her stockbroker Henry and told him to purchase 300 shares of Royex
Corporation shares at $15 per share, the current market price. Henry agreed to do so,
but became distracted and failed to do so. The price of the shares rose $3 in price that
day. In the evening, Donna in a telephone conversation agreed to sell 300 shares of
Royex to Sid. Assuming Henry and Donna dispute the validity of the contracts, which
of the contracts are enforceable in court?
For the purposes of Personal Auto Policy (PAP) coverage, an insured person €uses€
an automobile by unloading groceries from the car while it is parked in the garage.
Limited liability is not a feature of general partnership law.
The field of business ethics recognizes that social values typically must yield to the
profitability motive.
The tort of false imprisonment requires the detention of a person without his or her
consent.
The Equal Employment Opportunity Commission (EEOC) establishes equal
employment opportunity policy under the laws that it administers.
The major advantage to investors in a corporation stems from the fact that their risk of
loss is limited to the amount of their investment.