“You are raising a good point”
He isnt. Multiple people explained why it doesnt work that way.
Joseph
Again,
“Exactly! Which is why I told him he can have the Cheerios, etc and give me the cash.”
This isnt your chiduish, he is generally told that. However if he doesnt want to go through with it you cant force him, see Sam2’s detailed explanation above
“A contract is a contract. I’m simply holding him up to keeping his end of our bargain.”
Have you read the contract?