Concept explainers
Case summary: A person GH owns and operates OGE, an audit entertainment establishment. The person GH signed a work order authorizing the company TCG to create a prototype of a customer chat system at a price of $64,697. Further, he signed an additional work order related to the installation of a customized firewall system with the same company at a price of $12,943. The payment of the money was to be done in monthly installments. Due to some problems, the work was not completed within the time anticipated. Also, the person GH was not able to make timely payments. The company TCG threatened the person GH to cease the work and filed a case regarding breach of contract. The person GH, instead of making further payments, wished to abandon the project.
To find: The enforceability of the oral agreement, assuming that the person GH and the company TCG reach to an oral agreement in which it is decided that the company TCG will continue the work and the person GH will pay $5,000.
Trending nowThis is a popular solution!
Chapter 14 Solutions
The Legal Environment of Business: Text and Cases (MindTap Course List)
- What are the company's fixed expenses?arrow_forwardBloom Enterprises has fixed costs of $825,400. The selling price per unit is $210, and the variable cost per unit is $120. How many units must the company sell in order to earn a profit of $190,000?arrow_forwardCan you please answer this financial accounting question?arrow_forward
BUSN 11 Introduction to Business Student EditionBusinessISBN:9781337407137Author:KellyPublisher:Cengage Learning
Essentials of Business Communication (MindTap Cou...BusinessISBN:9781337386494Author:Mary Ellen Guffey, Dana LoewyPublisher:Cengage Learning
Accounting 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