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krok68 [10]
3 years ago
15

On May 1, Study and Burrow, two college professors, entered into and oral contract under which study agreed to sell his computer

to Burrow for $1,300, with delivery and payment on May 15. On May 2, Study sent Burrow a signed letter confirming all the terms of their oral contract. Burrow received Study’s letter on May 3 but never responded. On May 15, Study tendered delivery of the computer to Burrow, but Burrow refused to accept or pay for it, stating that he had changed his mind and did not need Study’s computer. Study sues Burrow for breach of contract. Burrow pleads the Statute of Frauds as a defense.(a) Judgment for whom? Explain.(b) If Study and Burrow were merchants who sold computers, judgment for whom? Explain.
Business
1 answer:
nasty-shy [4]3 years ago
4 0

Answer:

Check the following explanation

Explanation:

a) Usually a contract has the following elements:

Offer .

Acceptance .

Consideration .

Intention to create a legal relationship .

In the given case, the intention to create a legal relationship is missing. Though Study had sent a written legal contract to Burrow to affirm the contract, Burrow did not show any interest regarding the same. Hence Burrow can’t be sued for breach of contracts. Moreover the confirmation letter sent by Study does not qualify under the Merchant Memo Rule as the involved parties are not merchants. Burrow can use the terms of UCC for his favour. The UCC states that any contract with value more than $500 must be in writing. As the involved amount in this case is $1300, hence this case does not qualify as a contract under UCC.

b) If Study and Burrow were merchants, then the Merchant Memo Rule gets applicable. Then in that case, if 2 merchants enter into an oral contract, which is worth $500 or more and one of the merchant sends a written confirmation for the same, then a contract will be considered enforceable. In such a case, Burrow will be held liable for breach of contract and can be sued by Study.

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We may understand criminal behavior and thus be able to prevent crime.

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A company has employed two workers A and B whose productivities are 20units and 15units respectively. The wage for A is k12 whil
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no

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In order to achieve optimal employment level, the ratio of productivity between employees must be equal to the ratio between their wages, e.g. an employee who is 25% more productive, should earn 25% more.

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3 years ago
In a catalog a coat was on sale for $65.55 this week. It regularly sells for $77.77. If the sales tax is 6% and shipping is belo
bazaltina [42]

Answer:

$14.96

Explanation:

Shipping and handling charges are attached.

Given: Discounted price= $65.55.

           Regular sales price= $77.77

           Sales tax= 6%.

Now, find the cost of coat after tax.

Cost of coat= 77.77+(77.77\times 6\%)

⇒ Cost of coat= 77.77+ 4.66= \$ 82.43

Adding shipping charges to the cost= 82.43+8.95= \$91.39

Hence, cost of coat after tax and shipping charges= $91.39.

Next finding total cost of coat if sold at discount after tax.

Cost of coat at discounted price after tax= 65.55+(65.55\times 6\%)

⇒ Cost of coat at discounted price after tax= 65.55+ 3.93

⇒ Cost of coat at discounted price after tax= \$ 69.48

Adding shipping charges to the cost of coat= 69.48+6.95=\$ 76.43

Hence, cost of coat at discounted price after tax and shipping charges= $76.43.

Finding saving amount by ordering coat at the sale price or discounted price.

∴ Saving = Total\ cost\ of\ coat\ at\ regular\ price - Total\ cost\ of\ coat\ at\ discounted\ price

Saving= 91.39-76.43= \$ 14.96

Hene, Total saving by ordering coat at the sale price is $14.96

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To take best advantage of this situation, Mr Smith should go long(buy) on this stock.

Stock Index Future js a method of derivates. Futures, like forward contract is a forward commitment which obligates the buyer to purchase an asset or the seller to sell an asset and have a predetermined future date and price. Future is used to hedge against worse future situations.

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peanut butter and jelly are complements. if there is a decrease in the price of jelly, producer surplus in the peanut butter mar
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If the price of jelly decreases, the demand for peanut butter, a complementary good to jelly, will increase. The increase in the demand for peanut butter will cause the price of peanut butter to rise.

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