This is a typical case of who bears the responsibility for the loss of merchandise. Is it Thompson Corp. or is it, Murah Corp. Well, Thompson Corp. placed an order of 1000 outdoor aluminum table by fax to Murah Corp. for $250 per set. And Murah Corp. replied to Thompson Corp. order by sending them a thank you email and assuring them that they will deliver the goods within 30 days; plus, in the meantime they want Thompson Corp. to send them a 10% down payment check and a copy of an agreement where it said, “in the events if disputes, parties must arbitrate in Chicago” please sign and send it on the 10th days. Thompson Corp. sends a note to Murah Corp. with the down payment of $25,000 and an agreement and their agreement said: “in the events of any disputes, all …show more content…
After twenty-five days, later Murah Corp. inform Thompson Corp. by fax that the goods are being shipped through CD Truck Co. to its warehouses requested and they are mailing Bill of Lading. However, on the thirtieth day, Murah Corp. inform Thompson Corp. by fax that all the goods are being lost in an accident and they are demanding the balance of the payment. Thompson Corp. faxed back and demanded the return of their down payment. But, Murah Corp. is asking for arbitration.
The first thing we should look for is there a contract exists between both parties and throughout their communication by fax and email we learned that yes there is a contract. Even though, both parties never signed the contract that they send it to each other, but neither they send any kind of objection to each other regarding the contract or its term. Now the question is what are the Thompson Corp. rights? Well, the Thompson Corp. does have a right to receive remedies for the loss of his 1000 aluminum table and chair sets. But Thompson Corp. cannot receive that remedy from Murah Corp. Because when Thompson Corp. placed an order they did not specify in their contract who bears the responsibility for
Issue: Was SmithStern a Limited Liability Corporation or a corporation? Also, was there a breach in the contract?
For each year that the Higginses and the Hargroves were not released from the liability associated with the guarantees, the Phillips and Mikowski agreed to pay the Higginses and the Hargroves $10,000 to each family under the Purchase Agreements. When the Phillipses and Mikowski refused to make the payments due under the Purchase Agreements in 2014, the Higginses and the Hargroves filed complaints in the District Court of Maryland for Talbot County, seeking the payments due under the Purchase
Answer: Carnack is correct because Willard entered a contract that states that the deposit of $10,000(down payment) as liquidated damage. The contract was reasonable in its damage amount and unlikely to tell when a possible breach was going to happen, therefore the owner can obtain compensation. When Willard breached her contract by not being able to finance the $90,000, Carnack is entitled to obtain a certain amount of money.
The contract was for a total of 62,748 jogging suits that would be custom made for girls and boys. The total contract price was for $ 749,103.60 that included the shipping of the merchandise, which would be shipped within six purchase orders. On or about August 29, 1994 they (Goody’s) terminated their contract in writing, which validates a right to cancel. The parties agreed to amend the first shipment date, Goody’s deny that all other shipment dates were to be amended as well. Goody’s feel that there was any “wrongful, unlawful, or without good cause or justification” eras on their behalf.
Once all computer systems have been sanitized, they can then be disposed of. There are various ways in which this can be accomplished, some more profitable to the company than others.
On December 11, MD received an order for a total price of $22,100. Barbor Furniture Ltd. (Barbor) provided a deposit of $9,000 which was recorded as revenue when it was received on December 13. Barbor was not billed until January 2. The order was not shipped until after the year end on January 2. The remaining balance owing was recorded in accounts receivable and
g. On December 31, 2012, the company completed the work on a contract for an out-of-province company for $7,900 payable by the customer within 30 days. No cash has been collected and no journal entry has been made for this transaction.
Martinrea International Inc. (TSX:MRE) is a Canadian manufacturing company servicing customers around the world, primarily in the automotive sector. Founded in 2001, Martinrea has grown rapidly through both acquisition and organic growth, and currently employs over 14,000 people in 44 plants across North America, South America, Europe and Asia. The Vaughan, Ontario-based company has four sectors in its corporate structure, which include aluminum, fluids, metallics and modules. Martinrea’s four core sectors service mainly the automotive industry, however, the company has also begun to seek a broader cross-section of clientele, investing in lower volume assembly line parts such as buses, recreational vehicles, air conditioning, military and farm appliances.
He may also feel that the contact was breached and he is owed restitution. Marshall in this disagreement should first attempt to resolve this dispute without pursuing any legal action. He could use his faith and biblical teachings, to show errors of ways. He could argue the contract unenforceable due to fraud and inept execution, if he must rely on legal relief. The business relationship is best suited to be served also. The common law duty is to always act in good faith. Good faith performance is an implied agreement in nearly every contract in American common law jurisdictions (Burton, 1980). In the contract in question the promise was made, upholding an expectation of receiving the terms agreed upon in the contract. The issue is to act in good faith or to enforce the law. Marshall can secure not only supply, price, but also control of the benefits earned by his supplier. From a legal aspect, Marshall has acted in bad faith. A minor capacity to sign a contract is the bad faith act on Marshall’s part.
36. Principle of Law: The transaction between Browne and Houlihan was just under negotiation process and not form the contract. Browne did not acknowledge Houlihan’s e-mail and did not reply to accept Houlihan’s request, so he sold the television set to another. Houlihan then purchased a new set more expensive than Browne’s set. Both of them didn’t break the contract because there’s no contract between them. Therefore Houlihan had no legal basis to sue Browne for $1,000.
Contract Law Case Study Both the parties in the question have come to a problematic situation
Case Analysis: Blanchard Importing and Distributing Co. Inc. (HBS Case 9 - 673 - 033)
Contracts Exam Question (with sample answers) Question 1 H. Bigbus (B hereafter) operates a construction supply business in Harrisburg. B specializes in supplying difficult-to-locate plumbing and light fixtures for contractors who do remodeling work. B sent the following letter to five contractors in the Harrisburg region: OFFER TO THE TRADE We have cornered the market for a source of brass "Orient Express" wall hanging light fixtures. We know (and we're sure that you do, too) that these fixtures are in such great demand that they are nearly impossible to obtain. If you are willing to take all your needs from us, we'll guarantee delivery at $20.00 each. I. M. Sap (S hereafter), a contractor who remodeled about twenty houses per year,
L & Co dispatched the goods on credit to Blenkarn, who resold 250 dozen to Cundy. Blenkarn did not pay for the goods. L & Co sued Cundy to recover the handkerchiefs. It was held that the contract between L & Co and Blenkarn was void for unilateral mistake. L & Co intended to deal with Blenkiron & Co, not Blenkarn. Cundy was liable to return the handkerchiefs to L & Co because no right of ownership had passed to him.
Case Analysis: Blanchard Importing and Distributing Co. Inc. (HBS Case 9 - 673 - 033)