1. Black is purchasing a house under a real estate mortgage held by the white mortgage company. Under the terms of the mortgage, black is obligated to make a payment to white mortgage company each month. Part of the mortgage balance and a third part is deposited in an escrow account to pay for taxes and insurance. Black sells his house to gray, with gray defaults, can white mortgage co. take action to recover from black?
2. Black tool and Die company agreed to make a punch press die for white for $10,000. A one-month delivery time was agreed on. Black was ready to begin work on the die when white called and told Black to hold up until further notice. White then shopped around in an attempt to find a lower price for the die. White could not find a better price and called Black about two weeks to tell black to go ahead on the die, but Black refused, saying that its work schedule was now such that the die could not be completed within six months. White claims breach of contract and threaten to sue. What is the likely outcome of the case? Why?