Louis Brandeis

“ This continuing right of cancellation which was asserted later, in court, operated to curtail the damages recoverable. It limited the value of the plaintiff's right to require performance, and hence the amount and character of the loss for which compensation must be made. Prospective profits were not recoverable.
The corporation contends that the United States had broken its agreement even prior to its notification to stop preparations for the performance of the contract; and that a party in default cannot exercise a right to cancel. There is no such rule of general application. ”

“ An unconditional right to cancel can be availed of for the purpose of terminating a contract, even after suit brought, unless some intervening change in the position of the other party renders that course inequitable. ”

“ Scofield, 115 F. 119, 121, 53 C. C. A. 23; Trinidad Asphalt Mfg. Co. v. Trinidad Asphalt Refining Co., 119 F. 134, 138, 55 C. C. A. 566.↑ Carpenter Steel Co. v. Norcross, 204 F. 537, 539, 540, 123 C. C. A. 63, Ann. Cas. ”