The Legal Environment of Business: Text and Cases (MindTap Course List)
10th Edition
ISBN: 9781305967304
Author: Frank B. Cross, Roger LeRoy Miller
Publisher: Cengage Learning
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Chapter 14, Problem 1CT
Summary Introduction
Case summary: A person J agreed to buy a freezer costing $900. After-tax and additional charges, the cost got raised to $1,234.80. Later, the person J filed a suit against the seller in the state court to declare the purchase contract as unconscionable.
To Find: The reason behind the knowledge of the seller regarding the buyer’s limited resource that supports the finding that the contract was unconscionable.
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The Legal Environment of Business: Text and Cases (MindTap Course List)
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- If the contract is silent as to the party who is to appropriate the goods__________. Select one: a. goods seller is to be appropriate b. the buyer is to appropriate c. the party who under the contract is first to act is to appropriate d. any party may appropriatearrow_forwardSpaulding & Kimball Co. ordered from Aetna Chemical Co. 75 cartons of window washers. The buyer received them and sold about a third to its customers but later refused to pay for them, claiming that the quality was poor. The seller sued for the price. Would the seller be entitled to the contract price?arrow_forwardList the three requirements that a mistaken party has to prove in order to claim that the contract is void due to the fact that there had been a mistake and thus no consensus between the parties?arrow_forward
- Kindly explain the following for remedies for breach of contract 1.Damages 2.0rder of payment 3.Specific Performance 4.Injunction 5.Rescissionarrow_forwardDiscuss any five (5) remedies available to the employees in case of breach of contract. b) With the aid of examples, explain the term vicarious liability.arrow_forward6 - A contract must always contain explicit written terms in order for it to be legally upheld. TrueFalsearrow_forward
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