Is the contract enforceable

Assignment Help Business Management

Reference no: EM131387785

Schreiner, a cotton farmer, agreed over the telephone to sell one hundred and fifty bales of cotton to Loeb & Co. Schreiner had sold cotton to Loeb & Co. for the past five years. Written confirmation of the date, parties, price, and conditions was mailed to Schreiner, who did not respond to the confirmation in any way.

Four months later, when the price of cotton had doubled, Loeb & Co. sought to enforce the contract. Schreiner argues that he is not a merchant. Is the contract enforceable?

Reference no: EM131387785

Questions Cloud

What rights do you consider to be universal human rights : First, what "rights" do you consider to be "universal human rights"? For example, because you can lose your right to vote if convicted of a felony, the right to vote must not be a universal human right.

Calculate the breakeven sales level : Say the overseas producer announces that the price for the cans will increase by $0.25 per unit, and the product manager is considering passing on that cost increase to customers by raising the product's price to $5.75. Calculate the breakeven sal..

Can custom and trade usage be used to interpret : HMT responds that the quantity term in the contract was definite and unambiguous. Can custom and trade usage be used to interpret an unambiguous contract? Discuss.

Coupon rate should the company set : The company currently has 6% coupons bonds on the market that sell for $1,337, make semiannual payments, and mature in 15 yrs. What coupon rate should the company set on its new bonds if it wants them to sell at par? The bond has a face value of ..

Is the contract enforceable : Four months later, when the price of cotton had doubled, Loeb & Co. sought to enforce the contract. Schreiner argues that he is not a merchant. Is the contract enforceable?

Write a positive response about the given post : Assessment of the geriatric patient focuses on the promotion of quality of life, maintaining self-care, and preventing disease and its complications. Often there are chronic diseases that need to be addressed. Some of the major issues are we..

What is unida unlevered cost of capital : a. What is Unida's unlevered cost of capital? b. What is Unida's after-tax debt cost of capital? c. What is Unida's weighted average cost of capital?

Will hunter be successful in its claim : Hunter, forced to buy windshield wipers elsewhere at a higher price, is now trying to recover damages from Webster. Will Hunter be successful in its claim?

Statement of financial position : What is the value of the retained earnings account for the December 31, 2009 statement of financial position?

User Account

All Pages