Lms Integrated Mindtap Business Law, 1 Term (6 Months) Printed Access Card Cross/miller’s The Legal Environment Of Business: Text And Cases, 10th
10th Edition
ISBN: 9781337093897
Author: Frank B. Cross, Roger LeRoy Miller
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 13, Problem 1IS
Summary Introduction
Case summary: The company RF contracted with SD to buy two hundred carloads of frozen pizzas.
To find: The scope of cancellation of the contract by the parties before its performance.
Summary Introduction
Case summary: The company RF contracted with SD to buy two hundred carloads of frozen pizzas.
To find: The status of the contract when one party has already shipped the product.
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
Sue Flay's Cakery promises to pay Oscar Ruitt not to park in a city-designated no-parking zone in
front of her store. This agreement is:
(Choose all of the correct answers.)
Not enforceable because Oscar Ruitt has no legal right to park in a city-designated no-parking zone
Not enforceable because Oscar Ruitt never made any enforceable promise to Sue Flay's Cakery
Not enforceable because Oscar Ruitt is merely making an illusory promise
Enforceable because Oscar Ruit is giving up the right to do something he would otherwise have the right to
do
Enforceable because Sue Flay's Cakery is offering legally sufficient consideration to Oscar Ruitt
Illinois Accident and Health Producer General - Shayaan Shaikh
Offer, acceptance, and consideration are necessary elements of:
OA.
OB.
OC.
OD.
a warranty
a representation
a contract
insurable interest
Time Remaining
Flag fo
Pls help ASAP
Chapter 13 Solutions
Lms Integrated Mindtap Business Law, 1 Term (6 Months) Printed Access Card Cross/miller’s The Legal Environment Of Business: Text And Cases, 10th
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, subject and related others by exploring similar questions and additional content below.Similar questions
- A vessel under your agency has loaded a cargo of steel plates. You have arranged pilots and tugboats for sailing shortly, and you have boarded the vessel in order to complete the cargo paperwork. The master of the vessel however refuses to sign the original bill of lading as he states that a percentage of the cargo is rust stained. A. Discuss your actions. B. Explain why a ship's agent requires Protection & Indemnity cover.arrow_forwardGeorge agrees to sell his 20 foot sailboat to Charlie for $500. The sailboat has a market value of $1000. Charlie agrees to pay $500 for George's sailboat. Charlie's consideration: Question 7 options: A) is not legally sufficient since the consideration is far from adequate. B) is sufficient consideration since in general a court of law will not question the adequacy of consideration. C) None of the above.arrow_forwardWhile arranging the client's Ontario Automobile Policy (OAP1) policy, the client tells the Broker that they use their car for about 6 hours per week to provide a ride sharing service. What, if any, additional coverage is needed? Nothing, as the OAP1 now covers part-time ride sharing so long as the vehicle is primarily for personal use. An endorsement to the drivers OAP1 for rented or leased vehicles (OPCF 5) is required. A separate specific ride-sharing insurance policy is required as it is a commercial enterprise. An endorsement to the drivers. OAPE for transportation (OPCF 20) is required.arrow_forward
- 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.arrow_forwardBuyer Bert can't believe that Seller Sam has had a last-second change of heart about entering into an agreement to sell his home to Bert. Sam has offered to refund Bert's earnest money and even pay him something in acknowledgment of Bert's inconvenience and disappointment, but Bert's not having it. He wants Sam's house. Choose the remedy for breach of trust that Bert will most likely take. demand specific performance initiate rescission accept compensatory damages settle for liquidated damagesarrow_forwardTom, Dick and Harry are accounting students at a Sydney university. They all come from the country, and need to live close to the city as they are full-time students. They decide to rent a three-bedroom house close to the university advertised by Inner City Real Estate, who insist that they sign a lease and pay the bond money before the key is handed over. State whether the following statements are true or false, briefly explaining your reasons why. a) Tom, Dick and Harry are owners of the house b) Tom, Dick and Harry are in possession of the housearrow_forward
- List and define each type of authority: What is a disclosed principal: What is an undisclosed principal: What is an unknown principal: For the above 3 questions, what type of liability would an agent representing the principal have in a contract where the principal backs out of the deal: 29. 30. 31. 32. 33.arrow_forwardCase study contract law and offer acceptance. Scenario: Alex posts an advertisement to sell his vintage record collection for $1,000. Beth sees the ad and sends Alex an email expressing interest in purchasing the collection for the advertised price. Before Alex can respond to Beth’s email, he receives a text message from Chris offering to buy the collection for $900. 1. Has Alex made a valid offer to sell his record collection? Why or why not? 2. What constitutes acceptance in this scenario? 3. Is there a contract formed with Beth or Chris? Why or why not? 4. If both Beth and Chris attempted to accept, who would prevail?arrow_forwardQ1. To prevail in an action brought under common law, the plaintiff must show all of the following except: (in your response, explain the burdens of proof for a third-party plaintiff under common law). Q2. Kerry CPA is the auditor for Sammy Corp. During the audit, Kerry discovers a material misstatement in Sammy's financial statements. Sammy's management tells Kerry that if the misstatement is corrected or if Kerry issues an opinion that indicates there is a material misstatement, Sammy Corp. will likely have to declare bankruptcy and thousands of employees will lose their jobs. Which of the following statements is true if the misstatement is not corrected and Kerry issues an unqualified opinion on Sammy's financial statements? (in your response, identify the court case that makes Kerry liable to any person who suffered a loss as a result of the fraud).arrow_forward
- BUSINESS LAW EXPERT PLS ATTAIN THIS 1. An offer to contract was made to you by email. You decided to accept that offer and replied by email stating your acceptance. When is the acceptance validly communicated? 2. P entered into a 10-year lease of a warehouse. Thereafter, the local authority closed the only street access to the warehouse because of a dangerous building. The street was to be re-opened after the dangerous building was demolished. Discuss whether P could refuse to pay rent and have the contract set aside on the basis of frustration.arrow_forwardhelparrow_forward10. X has an oral contract with Y for the purchase of Y's lake cabin. X's remedy(ies) is/are if Y breaches: a) Specific performance. b) Injunction. c) Damages. d) Probably no remedy available as this contract had to be in writing before X could take it to court as the Statute of Frauds requires this contract to be in writing.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- BUSN 11 Introduction to Business Student EditionBusinessISBN:9781337407137Author:KellyPublisher:Cengage LearningEssentials of Business Communication (MindTap Cou...BusinessISBN:9781337386494Author:Mary Ellen Guffey, Dana LoewyPublisher:Cengage LearningAccounting Information Systems (14th Edition)BusinessISBN:9780134474021Author:Marshall B. Romney, Paul J. SteinbartPublisher:PEARSON
- International Business: Competing in the Global M...BusinessISBN:9781259929441Author:Charles W. L. Hill Dr, G. Tomas M. HultPublisher:McGraw-Hill Education
BUSN 11 Introduction to Business Student Edition
Business
ISBN:9781337407137
Author:Kelly
Publisher:Cengage Learning
Essentials of Business Communication (MindTap Cou...
Business
ISBN:9781337386494
Author:Mary Ellen Guffey, Dana Loewy
Publisher:Cengage Learning
Accounting Information Systems (14th Edition)
Business
ISBN:9780134474021
Author:Marshall B. Romney, Paul J. Steinbart
Publisher:PEARSON
International Business: Competing in the Global M...
Business
ISBN:9781259929441
Author:Charles W. L. Hill Dr, G. Tomas M. Hult
Publisher:McGraw-Hill Education