The Legal Environment of Business: Text and Cases
10th Edition
ISBN: 9781337535878
Author: Frank B. Cross; Roger LeRoy Miller
Publisher: Cengage Learning US
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Chapter 14, Problem 1CT
Summary Introduction
Case summary: A person J agreed to buy a freezer costing $900. After-tax and additional charges, the cost got raised to $1,234.80. Later, the person J filed a suit against the seller in the state court to declare the purchase contract as unconscionable.
To Find: The reason behind the knowledge of the seller regarding the buyer’s limited resource that supports the finding that the contract was unconscionable.
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Determine the delictual liability from this scenario?
Tree Combined School has hired a flower planting contractor to plant flowers in the school premises. The contractor came with two trucks to supply fertile soil and flowers. The deputy principal requested all educators to supervise learners during break to avoid injury. On Monday educators followed their ground duties roster very well. On Tuesday one of the educators came with a birthday cake and invited all educators to come and enjoy his birthday during break. He told educators that they should not be afraid to leave learners alone because they have a right to eat during break. While all educators (including those that were on duty) were busy enjoying themselves, one of the groundsmen came running to the deputy principal’s office to inform him that one of the grade 2 learners has been knocked down by a truck.
18) The aggrieved party can claim only the damages in case of breach of warranty.
a) True b) False
19) A buyer has right to examine goods for the purpose of ascertaining whether they are in
conformity with the contract.
a) True b) False
20) In respect of hire purchase, the owner must serve the hirer and the guarantors a copy of the hire
purchase agreement within 14 days after it is made
a) True
b) False
21) In hire purchase, the owner must obtain from the hirer a deposit in cash or in goods or partly in
cash and partly in goods, to a value not less than one-fifth of the cash price of the goods.
a) True
b) False
Chapter 14 Solutions
The Legal Environment of Business: Text and Cases
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- 4. Differentiate between compromise and accommodating. For what circumstances each of them is best fitted (explain separately)?arrow_forwardWith the aid of relevant examples write short notes on any 5 remedies available for breach of contract.arrow_forwardContrast with examples affirmative warranties from promissory warranties.arrow_forward
- 19) The Elle Corporation manufactures fingernail polish. Suzy buys a container of Elle's fingernail polish, applies it to her nails, and suffers a severe allergic reaction. She sues Elle under the implied warranty of merchantability, The test for determining whether Suzy will recover is whether: A) the nail polish she bought was suitable for the needs of the average consumer. B) the nail polish she bought properly performed its function of coloring one's nails. C) such a reaction in an appreciable number of consumers was reasonably foreseeable. D) the ingredient causing the reaction was foreign to the nail polish or natural to it. nating one model, Bobby noticesarrow_forwardPrepare a case analysis with 2000-3000 words for the following: A contract forms when one person makes an offer, and another person accepts it by communicating their assent or performing the offer's terms. If the terms are certain, and the parties can be presumed from their behavior to have intended that the terms are binding, generally the agreement is enforceable. While agreement is the basis for all contracts, not all agreements are enforceable. A preliminary question is whether the contract is reasonably certain in its essential terms, such as price, subject matter and the identity of the parties. Requirements 1- An introduction and a conclusion. 2- A critical discussion on the concept of what is an offer, inclusive of the various requirements of an effective and valid offer, with…arrow_forwardIf a price is not determined by the parties in a contract of sale, the buyer is bound to pay________________. Select one: a. the price which the buyer thinks is reasonable b. the price to be determined by a third independent person c. the price demanded by the seller d. a reasonable pricearrow_forward
- 1. The men's department had sales of $60,000 for December. During the month, the buyer reduced prices of 38 suits from $695 to $445 and that of 20 suits from $550 to $287. What was the markdown percent for the month? Present your answer with a %-sign, rounded to two decimal places (i.e. 19.47%). 2. A giftware buyer received 36 crystal clocks that retailed for $79 each. Five clocks sold at that price before a special sales event. The remaining 31 clocks were marked down to $58. Nineteen of the clocks were sold during the sale, and the remaining clocks were marked to the original $79 price. The remaining clocks were eventually sold at full price. Calculate the net markdown percent. Present your answer with a percent sign, rounded to two decimal places (i.e. 19.64%). 3. Alma, a sales associate, receives a 20% employee discount. Because she was the top sales associate of the month, Alma was given an additional 10% discount for the month of March. During March, Alma purchased a…arrow_forwardSeller entered into a contract to sell goods at a contract price of $2,000. At the delivery date, the seller refuses to deliver the goods. If the buyer covers on the date delivery is supposed to occur, the cost to acquire alternate goods, also the fair market value, is $2,200. One week later the fair market value is $2,500. Discuss the remedies available to the buyer.arrow_forwardThe children's buyer licensed tee shirt order was invoiced on June 25 for $10,600. The terms on the order were 8/10 EOM. How much should the buyer pay if the order is paid on time by the due date?arrow_forward
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