Is lloyd correct in given contention and why

Assignment Help Business Law and Ethics

Reference no: EM131388264

Mae contracted to sell one thousand bushels of wheat to Lloyd at $10 per bushel. Just before Mae was to deliver the wheat, Lloyd notified her that he would not receive or accept the wheat.

Mae sold the wheat for $9.60 per bushel, the market price, and later sued Lloyd for the difference of $400. Lloyd claims he was not notified by Mae of the resale and hence is not liable. Is Lloyd correct? Why?

Reference no: EM131388264

Questions Cloud

Typical time period for a repurchase agreement : 1. How is the discount yield on a U.S. Treasury bill computed? 2. What's the typical time period for a repurchase agreement?

Explain whether felley received an express warranty : Felley now contends that the Singletons breached their express warranty. Explain whether Felley received an express warranty and whether the Singletons are liable.

Investment decision making process : How does the concept of present and future value of funds affect investment decision making process?

Why salespeople fail to gain commitment : Why Salespeople Fail to Gain Commitment. One reason why sales are not completed is the salesperson makes no attempt to close the sale.

Is lloyd correct in given contention and why : Mae sold the wheat for $9.60 per bushel, the market price, and later sued Lloyd for the difference of $400. Lloyd claims he was not notified by Mae of the resale and hence is not liable. Is Lloyd correct? Why?

What is the nominal interest rate : The real risk-free rate is 3%. Inflation is expected to be 3% this year, 4% next year and 3.5% thereafter. The MRP is estimated to be 0.05%(t - 1) where t is the number of years to maturity. What is the nominal interest rate on a 7-yr U.S. Trea..

Can david recover damages from judy : Can David now recover damages from Judy at the rate of $8 per ton for the coal thus purchased, amounting to $16,000?

How important is tailoring the business models : How important then in your opinion, is tailoring the business models? Select a business that that either already exists, or you would love to start, and support your thoughts. Show us why it is, or is not, important to tailor the models!

Can interviewers ignore their preconceptions : Basic research on expectancy effects suggests that investigative interviewers with pre-conceived notions about a crime may negatively influence the interview process in meaningful ways, yet many interviewing protocols recommend that interviewers r..

User Account

All Pages