Problem Answers Chapters 21 22 23 24 25 Rev Essay

Submitted By BillyAnHotmailCo
Words: 2821
Pages: 12
Open Document
ANSWERS TO PROBLEMS

INTRODUCTION TO SALES CHAPTER 21

1. Answer: Contractual Modifications/Statute of Frauds. No. This problem brings out two situations: (1) can the contract be modified without consideration and (2) what is the effect, if any, of the oral agreement upon the modification. Concerning point number 1 the U.C.C. Section 2-209(1) provides the “the modification of a contract within this article needs no consideration to be binding." However; the Statute of Frauds provision, U.C.C. Section 2-201, renders this oral modification unenforceable. A contract for the sale of goods in the amount of $500 or more must be in writing and signed by the party to be charged or her authorized agent or broker or otherwise comply with the requirements of the Statute. The key concerning a modification of a prior contract is whether the modification brings or retains the contract within. the Statute of Frauds, i.e., whether the contract as modified is for $500 or more-which, it is as it is a modification that retains the contract within the Statute (i.e. it keeps the contract at $5,000 here).

2. Answer: Sales By and Between Merchants. Ten days after receiving the letter International Widget would be bound by the written memorandum as if they signed it. U.C.C. Section 2-201 (2) provides that between merchants a written confirmation sent within a reasonable time which is sufficient against the sender (i.e. signed by the sender) is also sufficient against recipient of the confirmation provided the recipient has reason to know its contents and provided the recipient does not give written notice of his objection within 10 days of receipt.

6. Answer: Irrevocable Offers. Decision for Bowman. Acorn's offer of November 23 constituted a firm offer and could not be revoked for the specified period of time (10 days). Hence Acorn's attempted revocation of the offer on November 25 is ineffective. A firm offer is a written offer signed by a merchant which by its terms gives assurance that is will be held open for a period of time, which cannot exceed three months without condideration. U.C.C. 2-205. Bowman validly accepted Acorn's offer on Dec 1, while the offer is still open, by dispatching, by a reasonable means of acceptance, his acceptance. It is irrelevant on what date the acceptance was received by Acorn. Since the UCC does not address the issue, the common law rules on acceptance apply and thus acceptance is effective upon dispatch here.

PERFORMANCE CHAPTER 22

1. Answer: (a) Rejection. Kristine has lost her right to reject the machine, although she has a cause of action for damages against the seller if there is a breach of warranty. Upon learning that the machine was defective and that it did not conform to the contract of sale, Kristine could have rejected it by promptly notifying the seller and returning it to the seller or tendering it to him. However, Kristine's continued use of the machine for three months after knowledge of the defect was an acceptance of the goods which precludes rejection. U.C.C. §2-607.
(b) Revocation of Acceptance. Kristine would have the right to revoke if (1) she accepted the machine on the reasonable assumption that its non-conformity would be cured, (2) it has not been seasonably cured and (3) the non-conformity substantially impairs the value of the machine. If these conditions are met Kristine may revoke her acceptance if she does so within a reasonable time after the seller fails to seasonably cure. U.C.C. §2-608(2).
2. Answer: Inspection. Judgment for Beyer who has the right of inspection under U.C.C Section 2-513. The contract did not by its terms provide for payment of the price C.O.D or upon presentation of documents of title, nor did Beyer in any other way waive his right of inspection. The refusal of Smith to permit Beyer to inspect the goods, where Beyer has not agreed or contracted to give up his right of inspection, is justification for Beyer's refusal to pay for the goods.
Show More

Related Documents: Problem Answers Chapters 21 22 23 24 25 Rev Essay

solum law Essay

January 1990 Pluralism and Modernity Lawrence B. Solum Follow this and additional works at: http://scholarship.kentlaw.iit.edu/cklawreview Part of the Law Commons Recommended Citation Lawrence B. Solum, Pluralism and Modernity, 66 Chi.-Kent. L. Rev. 93 (1990). Available at: http://scholarship.kentlaw.iit.edu/cklawreview/vol66/iss1/8 This Article is brought to you for free and open access by Scholarly Commons @ IIT Chicago-Kent College of Law. It has been accepted for inclusion in Chicago-Kent…

Words 8622 - Pages 35

Holidays, And Family Traditions In Utah

Day. This is the day that is celebrated in Utah that commemorates the Utah pioneers coming to Utah and inhabiting the land. They arrived in Utah on July 23rd, 1857 after coming across the USA in horse drawn wagons. They had a grand celebration on the 24-25th of the same year (Utah History Resource Center, n.d). This is known as Pioneer day and is a State holiday that…

Words 5700 - Pages 23

Notes On Neuroprosthetics

Chapter 6 Neuroprosthetics Arthur Prochazka, PhD • Chapter Objectives Following this chapter the reader will be able to: 1. Understand the basic principles of operation of neuroprostheses (NPs). 2. Appreciate the historical development of NPs. 3. Assess the main benefits and limitations of existing NPs. 4. Recommend the type of NP that might benefit a particular person. 5. Evaluate new NP technologies as they evolve. • Chapter Outline I. INTRODUCTION A. Definition. B. History II MECHANISMS A…

Words 9451 - Pages 38

Sustaining the Innovation Process: the Case of Rolls-Royce Plc Essay

SPRU, University of Sussex and Faculty of Economics University G. D'Annunzio Viale Pindaro, 42 65127 Pescara, Italy Email: a.prencipe@sussex.ac.uk Acknowledgements We would like to thank Joe Lampel for comments on an earlier draft of the chapter. This research was funded by the Targeted Socio-Economic Research (TSER) Programme of the European Commission (DGXII) under the Fourth Framework Programme, European Commission (Contract no.:…

Words 13947 - Pages 56

Managing Information Technology (7th Edition) Essay

CONTENTS: CASE STUDIES CASE STUDY 1 Midsouth Chamber of Commerce (A): The Role of the Operating Manager in Information Systems CASE STUDY I-1 IMT Custom Machine Company, Inc.: Selection of an Information Technology Platform CASE STUDY I-2 VoIP2.biz, Inc.: Deciding on the Next Steps for a VoIP Supplier CASE STUDY I-3 The VoIP Adoption at Butler University CASE STUDY I-4 Supporting Mobile Health Clinics: The Children’s Health Fund of New York City CASE STUDY I-5…

Words 239873 - Pages 960

United States V. Arizona Essay

Legislature’s Justification 10 B. The Decision: United States v. Arizona 18 IV. Analysis: S.B. 1070 is Preempted by Federal Immigration Law and Also Discriminatory 23 A. The Ninth Circuit Court of Appeals Correctly found that S.B. 1070 is Preempted Because it Interferes with the Administration and Enforcement of Federal Immigration Laws 24 B. S.B. 1070 Discriminates on the Basis of Race or National Origin 32 V.…

Words 14313 - Pages 58