Lms Integrated Mindtap Business Law, 1 Term (6 Months) Printed Access Card For Mann/roberts’ Smith And Roberson’s Business Law, 17th
17th Edition
ISBN: 9781337094566
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?
Jasper Bakery Limited signed a purchase order to buy 50 kg of butter from a farmer over the next month at a fixed price. The butter is of exceptional quality and will be used in baked goods that will be sold in the bakery.
Define the term “executory contract.”
Is the contract to buy the butter an executory contract? Explain.
Chapter 9 Solutions
Lms Integrated Mindtap Business Law, 1 Term (6 Months) Printed Access Card For Mann/roberts’ Smith And Roberson’s Business Law, 17th
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