Business, 25.02.2020 17:46 20jmurphy82

Assume that Jack and Hal and Sophia enter into a contract for the sale of the restaurant for $1,000,000. Part of the contract called for Jack to clean the outside of the restaurant prior to the closing. The day before the closing Hal alerted Jack that the restaurant was not cleaned. Which of the following is true?

Hal and Sophia would still have a duty to perform on the contract, but could then sue Jack for the cost of the cleaning.

Hal and Sophia could back out of the deal since the contract was not fully performed.

Hal and Sophia would still have a duty to perform on the contract, and would be out the amount that it cost them to clean the restaurant.

Hal and Sophia Hal and Sophia would still have a duty to perform on the contract, but could then sue Jack for three times the cost of the cleaning.

Assume that Jack and Hal and Sophia enter into a valid contract for the sale of the restaurant and for the covenant not to compete, and the deal would close in one year. Six months prior to the closing, Jack notifies Hal and Sophia that he changed his mind and that he would not through with the sale. Which of the following is true?

Jack has Jack has anticipatorily repudiated the contract the and therefore the courts treat the contract as a mutual rescission.

Jack has anticipatorily repudiated the contract, but Hal and Sophia must wait until the date of the closing to consider the contract to be breached.

Jack has anticipatorily repudiated the contract and Hal and can immediately consider the contract to be breached. Jack has the right to do so, since the sale has not yet taken place.

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Assume that Jack and Hal and Sophia enter into a contract for the sale of the restaurant for $1,000,...

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