Question

THIS IS A BLAW QUESTION PLS HELP

Corp B in NY entered in contracted for building materials with Greg Contractors for use in constructing NY homes. The written contract they used specified NOV 1 for delivery & a price described as "going rate"& 40% interest on payments. Some materials contained lead above allowed NY levels. Sept 15th principal @ Greg contractors canceled contract. Said He was 17 & suffering BPD when contract was formed. Also the price Corp B charged was 5x market price. Principal Wanted to state prices dropped 5x times &amp: get out of contract & theres no such building materials anywhere in the world. Grep corp subcontractors also wanted compensation for work done before contract blew up. ADVISE ALL PARTIES ON RIGHTS REMEDIES AND DEFENSES PLS WITH GREAT DETAIL

Answer 1

Contractural Terms

Contracting parties - Corp B and Greg Contractors

Schedule Delivery - November 1

Pricing -  Based on going rate pricing model. Which means the prices should be at the market competitive prices.

Interest on Delayed Payments - 40 percent

Dispute

Materials contained lead above allowed NY levels

Pricing is 5 times more then the market price thus voilating the going rate pricing model

Principal @ Greg Contractors canceled the contract on the grounds of mental disorder i.e. suffering from BPD.

Claim

Greg Contractors wants price deduction by 5x times. Compensation towards work done and end the contract.

Remedial Measures

For Corp B

a) Redefine the pricing based on going rate pricing model as initially agree in the contract considering the financial loss of Greg Contractors.

b) Resupply the right material with the lead under permissable NY levels

For Greg Contractors

a) Continue in the contract and agree/accept to the fresh amendments of the contract

Defenses

For Corp B

Challenge Greg Contractor to prove the mental disorder (BPD) on the day of contract as contract would be including witnesses.

For Greg Contractors

Challenge Corp B on violating pricing terms as well as government norms on permissible lead content