Bundle: The Legal Environment Of Business: Text And Cases, 10th + Mindtap Business Law, 1 Term (6 Months) Printed Access Card
10th Edition
ISBN: 9781337374835
Author: CROSS
Publisher: CENGAGE L
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 13, Problem 2BS
Summary Introduction
Case summary: C came into contract with F for building a home. The materials used in building the home must be the brand of CB and this clause is specifically mentioned in the contract. In C’s absence F used K’s fixtures which was an equivalent brand in terms of quality. When the building was on the verge of completion, C, after scrutinizing the work, discovered the substitution and refused to accept the house.
To discuss: Elaborate on the claim raised by C.
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
Gerry a plumber is hired under a written
contract to refurbish Bryan's master bathroom
and Bryan's first floor half bath for $45,000.
Bryan gave Gerry a $5,000 check to start.
Upon completion of the project Gerry gave
Bryan his final invoice. Bryan refused to pay.
What can Gerry do to protect his interest and
receive his pay? Would your answer change if
the contract was to refurbish all the
bathrooms at Bryan's grocery store? If yes
what changes would you make?
Kindly explain the following for remedies for breach of contract
1.Damages
2.0rder of payment
3.Specific Performance
4.Injunction
5.Rescission
On January 1, 2021, Crane, Inc. signs a 10-year noncancelable lease agreement to lease a storage building from Holt Warehouse Company. Collectibility of lease payments is reasonably predictable and no important uncertainties surround the amount of costs yet to be incurred by the lessor. The following information pertains to this lease agreement.(a) The agreement requires equal rental payments at the beginning each year.(b) The fair value of the building on January 1, 2021 is $6550000; however, the book value to Holt is $5500000.(c) The building has an estimated economic life of 10 years, with no residual value. Crane depreciates similar buildings using the straight-line method.(d) At the termination of the lease, the title to the building will be transferred to the lessee.(e) Crane’s incremental borrowing rate is 11% per year. Holt Warehouse Co. set the annual rental to insure a 10% rate of return. The implicit rate of the lessor is known by Crane, Inc.(f) The yearly rental payment…
Chapter 13 Solutions
Bundle: The Legal Environment Of Business: Text And Cases, 10th + Mindtap Business Law, 1 Term (6 Months) Printed Access Card
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
- Dani, a graphic design graduate, was hired by RAMPS Company to design a distinct logo for the firm within 1 month. Upon the successful development of the logo and the expiry of the 1-month period, RAMPS assigned additional tasks to Dani who gratefully started executing them without communicating his willingness to renew the contract in a direct way. Thus, RAMPS can register the and the facts show that there is a(n) logo as a renewal for the contract between RAMPS and Dani. Copyright; implied O Copyright; expressed Trademark expressed Trademark, impliedarrow_forwardTyree and Stella enter into a contract requiring Tyree to pay Stella $500 per month on the first of every month as rent for her storage space. Which of the following examples constitutes a material breach? a. Tyree pays Stella on the second of the month. b. Tyree pays Stella $200 on the first of the month and then $300 the next morning. c. Tyree pays Stella $490. d. Tyree pays Stella $200 at the end of the month.arrow_forwardEmilio'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_forward
- Lowell Shoemaker, an architect, was hired by Aff- house to work on a land development project. In September Shoemaker contacted Central Missouri Professional Services about providing engineering and surveying services for the project. Central submitted a written proposal to Shoemaker in October. About a week later, Shoemaker orally agreed that Central should proceed with the work outlined in the pro- posal. When the first phase of the work was com- pleted, a bill of $5,864.00 was sent to Shoemaker. Shoemaker called Central and requested that all bills be sent directly to the owner/developer, Affhouse. When the bills were not paid, Central sued Shoe- maker and Affhouse. The trial court entered a judg- ment against Shoemaker for $5,864 and he appealed. Shoemaker acknowledged that he did not disclose the identity of the principal to Central at the time the transaction was conducted, and explained:Q. You never told Mike Bates or Central Missouri Professional Services that you were an agent…arrow_forwardToby'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 Hotelarrow_forward6 - A contract must always contain explicit written terms in order for it to be legally upheld. TrueFalsearrow_forward
- George 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_forwardInstruction: Compare the following defective contracts using the comparative table below. VOID VOIDABLE RECESSIBLE UNENFORCEABLEarrow_forwardLAW 01 1. Donald is 16 and signs a contract with Deedee, an adult. The contract can be voided by: a) Deedee only b) Neither Deedee nor Donald c) Donald or Deede d) Donald only 2. Jose enters into a contract with Sally's Transportation to work as a driver. Under the plain meaning rule, if the contract's writing is clear and unequivocal, the meaning of the contract terms must be determined from a) any relevant evidence existing in addition to the contract. b) the later testimony of the parties. c) only evidence not contained in the document. d) only the language in the contract 3. Under a contract with Valley Vineyard, Walsh begins grading a terraced hillside for the planting of grapes. Halfway through the project, Walsh asks for $5,000 over the contract price because Walsh realizes he could have gotten Valley to agree to more if he'd given them a higher price initially. Valley agrees but later refuses to pay. Valley's agreement to pay more is. a) enforceable. b) unenforceable because…arrow_forward
- Assume that Elkins contracted to build an addition to Cromwell’s plant producing cruise missiles just prior to the Gulf War. The war ended before Elkins started work, and Cromwell tried to cancel the contract. Can Elkins do anything about the loss of his anticipated profit (a) if the contract contained a proper cancellation clause? (b) if the contract contained no clause dealing with cancellation?arrow_forwarda. true or false It is not necessary to prove a contract to sell land by a writing when both parties admit in court that they entered into a contract. b. true or false Consideration must be a bargained for legal benefit for both of the parties to the contract. c. true or false A contact exists and can be enforced even where one side's alleged consideration was a past un-bargained for act that benefited the other party.arrow_forwardImpossibilty of performance is , as a rule not an excuse for non - performance of a contract . Discuss .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