1. Identify the appropriate Rule

2. Apply the Rule

3. Explain your Conclusion

ABC Clothiers, Inc., has a contract with Taylor & Sons, a retailer, to deliver one thousand summer suits to Taylor's place of business on or before May 1. On April 1, Taylor receives a letter from ABC informing him that ABC will not be able to make the delivery as scheduled. Taylor is very upset, as he had planned a big ad campaign. Can Taylor immediately sue ABC for breach of contract (on April 2)? Suppose that Taylor's son, Tom, tells his father that they cannot file a lawsuit until ABCactually failsto deliver the suits on May 1. Who is correct, Taylor Senior or Tom? Explain.