Company I entered into a written contract with company N to assemble and install conduits under river R for a price of $149,680. Delays caused by company N forced company I to perform in winter months instead of summer months as originally bid as a result, major change and installation had to be made in the system above specified in the contract. Company N repeatedly assured to pay the additional costs if company I completes the work. The additional cost of company I to complete the work was $811,810.73. But company N signed release and paid only $575, 000 claiming that contract is not binding because it signed it under duress. To discuss: Whether company I is correct.

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Answer 1

Question

Chapter 11, Problem 22CP

Summary Introduction

Case summary:

Company I entered into a written contract with company N to assemble and install conduits under river R for a price of $149,680. Delays caused by company N forced company I to perform in winter months instead of summer months as originally bid as a result, major change and installation had to be made in the system above specified in the contract. Company N repeatedly assured to pay the additional costs if company I completes the work. The additional cost of company I to complete the work was $811,810.73. But company N signed release and paid only $575, 000 claiming that contract is not binding because it signed it under duress.

To discuss: Whether company I is correct.

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Answer 2

Question

Chapter 11, Problem 22CP

Summary Introduction

Case summary:

Company I entered into a written contract with company N to assemble and install conduits under river R for a price of $149,680. Delays caused by company N forced company I to perform in winter months instead of summer months as originally bid as a result, major change and installation had to be made in the system above specified in the contract. Company N repeatedly assured to pay the additional costs if company I completes the work. The additional cost of company I to complete the work was $811,810.73. But company N signed release and paid only $575, 000 claiming that contract is not binding because it signed it under duress.

To discuss: Whether company I is correct.

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Answer 3

Question

Chapter 11, Problem 22CP

Summary Introduction

Case summary:

Company I entered into a written contract with company N to assemble and install conduits under river R for a price of $149,680. Delays caused by company N forced company I to perform in winter months instead of summer months as originally bid as a result, major change and installation had to be made in the system above specified in the contract. Company N repeatedly assured to pay the additional costs if company I completes the work. The additional cost of company I to complete the work was $811,810.73. But company N signed release and paid only $575, 000 claiming that contract is not binding because it signed it under duress.

To discuss: Whether company I is correct.

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Answer 4

Question

Chapter 11, Problem 22CP

Summary Introduction

Case summary:

Company I entered into a written contract with company N to assemble and install conduits under river R for a price of $149,680. Delays caused by company N forced company I to perform in winter months instead of summer months as originally bid as a result, major change and installation had to be made in the system above specified in the contract. Company N repeatedly assured to pay the additional costs if company I completes the work. The additional cost of company I to complete the work was $811,810.73. But company N signed release and paid only $575, 000 claiming that contract is not binding because it signed it under duress.

To discuss: Whether company I is correct.

Expert Solution & Answer

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Answer 5

Chapter 11, Problem 22CP

Summary Introduction

Case summary:

Company I entered into a written contract with company N to assemble and install conduits under river R for a price of $149,680. Delays caused by company N forced company I to perform in winter months instead of summer months as originally bid as a result, major change and installation had to be made in the system above specified in the contract. Company N repeatedly assured to pay the additional costs if company I completes the work. The additional cost of company I to complete the work was $811,810.73. But company N signed release and paid only $575, 000 claiming that contract is not binding because it signed it under duress.

To discuss: Whether company I is correct.

Answer 6

Chapter 11, Problem 22CP

Summary Introduction

Case summary:

Company I entered into a written contract with company N to assemble and install conduits under river R for a price of $149,680. Delays caused by company N forced company I to perform in winter months instead of summer months as originally bid as a result, major change and installation had to be made in the system above specified in the contract. Company N repeatedly assured to pay the additional costs if company I completes the work. The additional cost of company I to complete the work was $811,810.73. But company N signed release and paid only $575, 000 claiming that contract is not binding because it signed it under duress.

To discuss: Whether company I is correct.

Answer 7

Chapter 11, Problem 22CP

Summary Introduction

Case summary:

Company I entered into a written contract with company N to assemble and install conduits under river R for a price of $149,680. Delays caused by company N forced company I to perform in winter months instead of summer months as originally bid as a result, major change and installation had to be made in the system above specified in the contract. Company N repeatedly assured to pay the additional costs if company I completes the work. The additional cost of company I to complete the work was $811,810.73. But company N signed release and paid only $575, 000 claiming that contract is not binding because it signed it under duress.

To discuss: Whether company I is correct.

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 11 - Prob. 1CO Ch. 11 - Prob. 2CO Ch. 11 - Prob. 3CO Ch. 11 - Prob. 4CO Ch. 11 - Prob. 5CO Ch. 11 - Prob. 1Q Ch. 11 - Prob. 2Q Ch. 11 - Prob. 3Q Ch. 11 - Prob. 4Q Ch. 11 - Prob. 5Q

Solution Summary: The author explains that company I entered into a written contract with company N to assemble and install conduits under river R. Company N repeatedly assured to pay the additional costs of 811,810.73 for completing the work.

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Chapter 11 Solutions