X and Y have a contract, which obligated X to sell Y 100 boxes of screws for $100. The parties orally modify the contract so that X will sell Y the same 100 boxes of screws for $125. The second agreement is:
Multiple Choice
binding because it is due to unforeseeable situation.
binding by virtue of being mutually agreed on.
not binding because it is an outputs contract.
not binding due to the promise of performing a preexisting legal obligation.
X and Y have a contract, which obligated X to sell Y 100 boxes of screws...
38.a Marcel, due to health problems, announced that he was selling his electronic equipment business. Paul, knowing Marcel's business activities, sent him an offer to purchase for $ 450,000, of which $ 75,000 payable immediately, with the balance payable in installments over the next two years. Marcel immediately emailed Paul stating, “The price and all other terms seem fair, except I need a larger first payment - say $ 125,000. Tell me how much you can increase the first installment....
Lee and Mary want Nick to replace Lee as a party to their contract. They can best accomplish this by agreeing to an accord and satisfaction. an assignment. a novation. a nullification. Which of the following is a true statement? In a limited liability company in the U.S., members cannot participate in management. In a limited liability company in the U.S. members must participate in management. The typical state limited liability company (LLC) statute in the U.S. would provide that...
Case review for Alaska Packers Assoc. v Domenico (9th Circuit, 1902) Issue, Ruling, Application, Conclusion ROSS, Circuit Judge. The libel in this case was based upon a contract alleged to have been entered into between the libelants and the appellant corporation on the 22d day of May, 1900, at Pyramid Harbor, Alaska, by which it is claimed the appellant promised to pay each of the libelants, among other things, the sum of $100 for services rendered and to be rendered....
multiple choice answers in one (1) document. Maker manufactures printing presses. News, a publisher of a local newspaper, was interested in purchasing a few presses. Rep, a representative of Maker, met with Bill, the president of News, to describe the advantages of Maker's presses. Rep also drew rough plans of the alterations that would be required in the News pressroom to accommodate the new presses, including additional floor space and new electrical installations, and left the plans with Bill. On...
you must use the format provided below in order to brief the attached case 221 N.W.2d 609 (1974) John SALSBURY, Appellee, v. NORTHWESTERN BELL TELEPHONE COMPANY, Appellant. No. 55960. Supreme Court of Iowa. September 18, 1974. Laird, Burington, Bovard & Heiny, Mason City, and William F. McFarlin, Des Moines, for appellant. Boyd G. Hayes, Charles City, and William Pappas, Mason City, for appellee. Considered en banc. HARRIS, Justice. This is the third appeal in which we have considered a claim...