Suppose a supplier gives you a price on a contract and then later comes back andclaims that he mistakenly wrote down the wrong price. Do you have the right to suethe supplier over breach of contract? What conditions are important here?

Q: What is the knowing misrepresentation of the truth in order to trick someone into entering into a…

A: Option a is correct.

Q: In a destination contract for the sale of goods, which of the following is true concerning when the…

A: A destination contract is a contract made for the sales of goods under which the seller promises to…

Q: In performing a contract of sale of goods, there may be a situation where the seller fails to…

A: A contract for the sale, sales contract, customer orders, or collective bargaining agreement for…

Q: Which of the following statements is incorrect? O a. If the occurrence of the obligation is in…

A: A liability is present obligation, arising from past transaction, which probably has to be paid. If…

Q: Explain the role of Anticipatory Breach of Contract in non-performance of contract. Briefly state…

A: A financial contract is an independently agreed agreement, contract, or sale, purchase, exchange,…

Q: 1."A sale of Goods Contract once made can never come to an end".Discuss the above statement with…

A: Sale of goods contract involves 2 parties  one is seller and other is buyer Seller sells the goods…

Q: the effect of the doctrine of privity of contract is that

A: The doctrine of privity of contract states that the contract law would not impose any obligation and…

Q: Forward contract is both a blessing and a curse because sometimes you feel that you should not have…

A: The contract between two parties (buyer or seller) in order to buy or sell the specific assets…

Q: A contract does not qualify for revenue recognition if Either party can unilaterally cancel the…

A: Revenues: Revenues are earnings from operations of a business. The operating activities are sale of…

Q: Briefly, explain the difference between the torts of Wrongful Interference with a Contractual…

A: Answer:-  Tort meaning:- Tort is a kind of civil wrong that causes the claimant to incur loss or…

Q: Determine whether the statement is legally correct (true) or not (false).   1. Conditions, interest,…

A: Sale represents that the seller would sell the goods or provide service in order to ear something in…

Q: Explain whether the following statement is true: “Duress is an unlawful threat of harm or injury…

A: A void contract is a formal agreement that is voidable from the moment it is signed. Although both…

Q: Factual errors can occur in two ways: unilaterally or bilaterally. What are the implications of both…

A: pleas see the next step for solution

Q: Which of the following is NOT an example of a contingency? Salaries payable to top management…

A: Contingencies typically involve uncertainties or potential future events that may impact a company's…

Q: What is the difference between a covenant not to compete in a contract versus a covenant not to…

A: Covenant A covenant is a formal legal agreement between two parties for doing or not doing some…

Q: Which of the following arises when the seller's right to consideration from a customer is…

A: A receivable is recognized by the entity when the entity's right to consideration is unconditional…

Q: Related to ethics and contracts, why do payday loans appear to be an ethical issue?

A: Payday loans are small ticket loans for a short duration. The borrower pays back the loan when he…

Q: Wrongful Call insurance is intended to protect the exporter if an importer customer decides that the…

A: The answer is False.

Q: When an entity's management resolves that the entity will offer to repair a defect it has recently…

A: When an entity's management resolves that the entity will offer to repair a defect it has recently…

Q: Under the new revenue recognition guidance in ASC Topic 606, which of the following statements is…

A: In accounting, ASC stands for Accounting Standards Codification as defined by the financial…

Q: warranty is a separate performance obligation if the customer has the option to purchase the…

A: Performance obligation A performance obligation is a specific promise in the customer contract to…

Q: Which of the following is NOT a valid type of compensation for breach of contract? Select one: a.…

A: A contract is an agreement between two or more parties in which one party is bound to perform or not…

Q: Does contract modification always result in a new contract if the modification adds distinct goods…

A: The given situation can be linked with International Financial Reporting Standards (IFRS) 15 which…

Q: Your business may be at risk if: Select one: a. All of these b. An important contract does not…

A: Risk is a condition or circumstance where it can hamper the business of the company or may give an…

Q: on the advantages and/or criticisms of the two theories. according the economic theory of contract…

A: By banning involuntary appropriation, property law promotes people to get the most out of their…

Q: A contract modification always results in a new contract if the modification adds distinct goods or…

A: The given scenario can be linked with International Financial Reporting Standards (IFRS) 15 which…

Q: When an employee is in a position to detect and hide fraudulent activity, incompatible obligations…

A: The Answer :

Q: If an entity recognises the revenue associated with a contract with a customer over time (rather…

A: The question pertains to which of the two scenarios would be a more conservative approach : 1.…

Q: ulpa aquiliana as distinguished from culpa contractual:     Proof of due diligence in the selection…

A: Answer -  Culpa aquiliana as distinguished from culpa contractual:  Negligence incident to the…

Q: The relationship between a banker and its customers are not only fiduciary in nature but contractual…

A: A bank may be a financial organization that's allowed to simply accept deposits and supply loans.…

Q: What are some of the missteps by the buyer and seller in negotiation? How could they avoid those…

A: Negotiations: The discussion between two or more parties to arrive at a commercial or non-commercial…

Q: What are the repercussions of taking profit before the contracting company's obligations have…

A: Financial obligations are the obligations, which are referred to as the responsibility of an…

Q: 5. Which of the following remedies available to the seller for the breach of contract of sale…

A: The remedies for breach of contract: Amount of damage, causes of action, cancellation, and…