Additional Problems 10 and 11, Chapter 14

Additional Problems 10 and 11, Chapter 14 10. Saul, a cotton merchant, had 50 bales of cotton in his warehouse. Brown, a prospective buyer, inspected the bales in the warehouse, and entered into a signed written contract with Saul to buy the bales at a price of $1,000 per bale. Delivery was to be made by Saul to Brown's factory in two weeks. Two days before the delivery date, Saul's warehouse and the cotton that Brown had inspected were destroyed by fire caused by lightning. Brown demanded that Saul deliver another 50 bales of similar grade cotton. Upon Saul's refusal, Brown sued Saul for breach of contract. Judgment for whom? Explain. 11. On May 1, Peters, a concert producer, executed two contracts. The first contract was with Selena, a world-renowned singer, which provided that Selena was to perform a concert at Thomas's theater in Manhattan on July 4 for a fee of $200.000. The second contract was with Thomas, the owner of a theater in Manhattan, under which Peters rented Thomas's theater in Manhattan for the July 4 concert for a rental fee of $20,000. Peters sold out in advance all of the tickets for the concert and would have made a net profit on the concert of $100,000, after deducting the rental cost of the theater, Selena's fee and $20,000 for advertising expenses. On July 2, Thomas' theater burned down due to lightning. Peters immediately notified Selena, canceled the July 4 concert and refunded the full purchase price of the tickets to those who had bought tickets. Selena insisted upon payment of her fee because she was ready, willing and able to perform and the fire was not her fault. (a) In an action by Selena against Peters to recover her fee, judgment for whom? Explain. (b) In an action by Peters against Thomas to recover Peters actual expenses or $20,000 for advertising the concert and his lost profits of $100,000, judgment for whom? Explain. (c) [Skip part (c)]