Vernon agreed to have the assets of his business sold at auction with the proceeds to be deposited in a bank account held jointly by Vernon and the auction company. Vernon was to get the first $450,000.00, the auctioneer was to get the next $150,000.00, and anything else was to be split 70/30. But after two days the auctioneer made no bank deposit, keeping the entire $100,000.00 proceeds for himself. Vernon refused to let him back on his property to complete the auction. The auctioneer sued and Vernon countersued. Explain the arguments for both parties, who breached the contract, and their resulting responsibilities. How would it affect your answer to know that the auctioneer had sold some of the assets belonging to Vernon at a lower price than agreed, to a company with which the auctioneer was associated?