Smith and Roberson’s Business Law
17th Edition
ISBN: 9781337094757
Author: Richard A. Mann, Barry S. Roberts
Publisher: Cengage Learning
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Question
Chapter 9, Problem 7CP
Summary Introduction
To discuss: Whether the UCC can be applied to this contract.
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Students have asked these similar questions
Toby's Doggie Hotel enters into a contract with ABC Marketing to purchase 100 orange frisbees for $300.00. Toby's Doggie Hotel repudiates the contract and ABC later resells the frisbees to someone else for $250.00.
a.
ABC is not entitled to recover from Toby's Doggie Hotel
b.
ABC is entitled to recover $50.00 from Toby's Doggie Hotel
c.
ABC is entitled to recover $250.00 from Toby's Doggie Hotel
d.
ABC is entitled to recover $300.00 from Toby's Doggie Hotel
International Underwater Contractors, Inc. (IUC), entered into a written contract with New England Telephone and Telegraph Company (NET) to assemble and install certain conduits under the Mystic River for a lump sum price of $149,680. Delays caused by NET forced IUC’s work to be performed in the winter months instead of during the summer as originally bid, and as a result, a major change had to be made in the system from that specified in the contract. NET repeatedly assured IUC that it would pay the cost if IUC would complete the work. The change cost IUC an additional $811,810.73; nevertheless, it signed a release settling the claim for a total sum of $575,000. IUC, which at the time was in financial trouble, now seeks to recover the balance due, arguing that the signed release is not binding because it was signed under economic duress. Is IUC correct?
Emilio's Italian Restaurant enters into a contract with Vino winery wherein Emilio's agrees to purchase all the wine that Vino produces for $8/bottle.
a.
This contract is unenforceable because it fails to specify a quantity in the contract.
b.
This is an enforceable contract.
c.
This contract will only be enforceable if every other contract terms is specified in the contract.
d.
This contract is unenforceable because Vino hasn't given any consideration for selling all their wine to Emilio's.
Chapter 9 Solutions
Smith and Roberson’s Business Law
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Similar questions
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- Henk made an oral contract with Joel's garage to work as the manger of the garage for the next two years. Joel wrote Henk a letter stating all of the terms of the oral contract and signed the letter. Joel refuses to honor the agreement so Henk sues for breach of contract. Joel contends that their agreement can’t be enforced because it was a two-year contract and had to be in writing under the Statute of Frauds. Who wins the suit? Why?arrow_forwardCase 5 P Corp, a retailer of women’s fashion accessories, contracted Sandra as their purchasing agent. The agency contract expressly stipulates that Sandra is not allowed to enter into contract in excess of $50,000.00 without first obtaining approval from P Corp. On a number of occasions, Sandra negotiated the purchase of quantities of costume jewellery from Z Inc for prices varying between $30,000 to $45,000.00. Recently, Sandra placed an order with Z Inc for goods at a price of $60,000.00 and without consulting P Corp. Z Inc did not question the order. Two weeks after, Z Inc received payment from P Corp. Sandra was reprimanded by P Corp and, again, reminded of her $50,000.00 limit. Despite the warning, Sandra placed another order of $55,000.00 from Z Inc. This time P Corp refuse to pay and demanded Z Inc to take back the goods. Issues: Is Sandra acting on actual or apparent authority? Is the principal bound by the action of the agent, Sandra? Please state your reasonsarrow_forwardMr. Oliver entered into contract with his friend Mr. Green to transport some material in two weeks’ time. About a month before the delivery was to be made, the material was banned by the legislature, and so delivery was not possible. Mr. Green could have been arrested by the police if he was caught delivering the goods, but he delivered it anyway. Mr. Oliver refuses to pay. i. What can you say about the contract Mr. Oliver and Mr. Green entered into? ii. Should Mr. Green have made the delivery? why or why not? iii. Can Mr. Green enforce payment? why or why not. iv. What was the impact of the legislative action on the contract?arrow_forward
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