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 definiteand 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.

States that if there is no specific employment contract saying otherwise, the employer or employee may end an employment relationship at any time, regardless of cause. rule of fair treatment due-process policy rule of law employment flexibility employment at will

The martinez legal firm (mlf) recently acquired a smaller competitor, miller and associates, which specializes in issues not previously covered by mlf, such as land use and intellectual property cases. given the increase in the firm's size and complexity, it is likely that its internal transaction costs willa. decrease. b. increase. c. become external transaction costs. d. be eliminated.

The gilbert instrument corporation is considering replacing the wood steamer it currently uses to shape guitar sides. the steamer has 6 years of remaining life. if kept, the steamer will have depreciaiton expenses of $650 for five years and $325 for the sixthyear. its current book value is $3,575, and it can be sold on an internet auction site for$4,150 at this time. if the old steamer is not replaced, it can be sold for $800 at the endof its useful life. gilbert is considering purchasing the side steamer 3000, a higher-end steamer, whichcosts $12,000 and has an estimated useful life of 6 years with an estimated salvage value of$1,500. this steamer falls into the macrs 5-year class, so the applicable depreciationrates are 20.00%, 32.00%, 19.20%, 11.52%, 11.52%, and 5.76%. the new steamer is fasterand allows for an output expansion, so sales would rise by $2,000 per year; the newmachine's much greater efficiency would reduce operating expenses by $1,900 per year. to support the greater sales, the new machine would require that inventories increase by$2,900, but accounts payable would simultaneously increase by $700. gilbert's marginalfederal-plus-state tax rate is 40%, and its wacc is 15%.a. should it replace the old steamer? b. npv of replace = $2,083.51