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.

Alandlord rented an art studio to an artist. under the terms of the signed, written, two-year lease, the artist agreed to pay the landlord $1,000 per month and to assume responsibility for all necessary repairs. after the first year of the lease, the artist assigned the balance of his lease to a sculptor. the landlord approved the sculptor as a tenant and accepted two rent payments from her, and then the landlord sold the building to an investor. the sculptor had made two payments to the investor when an electrical fire broke out in the studio, injuring the sculptor. the fire was caused by faulty wiring. the landlord was aware that there was a dangerous wiring problem when he leased the property to the artist. but when the landlord discovered how costly repairs would be, he decided it would be more profitable to sell the property than to repair it. the problem was not easily discoverable by anyone other than an expert electrician, and the landlord did not tell the artist, the sculptor, or the investor about the problem. the sculptor sues to recover damages for her injuries. from whom can the sculptor recover?

You have recently been made a department head of the new regional office. in getting to know your departmental staff, you have noticed that one of your inexperienced employees is not following through on assigned tasks. she is enthused about her new job and wants to get ahead in the organization. which alternative represents the most effective leadership style: a. discuss the lack of follow-through with her and explore thealternative ways this problem can be solved. b. specify what she must do to complete the tasks but incorporate any suggestions she may have. c. define the steps necessary for her to complete the assigned tasks and monitor her performance frequently. d. let her know about the lack of follow-through and give hermore time to improve her performance.

Describe what fixed costs and marginal costs mean to a company.