Is the contractual modification binding

Assignment Help Management Theories

Reference no: EM131386567

Reinfort executed a written contract with Bylinski to purchase an assorted collection of shoes for $3,000. A week before the agreed shipment date, Bylinski called Reinfort and said, ‘‘We cannot deliver at $3,000; unless you agree to pay $4,000, we will cancel the order.''

After considerable discussion, Reinfort agreed to pay $4,000 if Bylinski would ship as agreed in the contract.

After the shoes had been delivered and accepted by Reinfort, Reinfort refused to pay $4,000 and insisted on paying only $3,000. Is the contractual modification binding? Explain.

Reference no: EM131386567

Questions Cloud

Consumption and investment functions : Assume that all expenditure is summarized in the following consumption and investment functions: Identify the equilibrium rate of output (or GDP). If full-employment GDP equals $2700 billion ,what kind of Gap will develop (recessionary or Inflationar..

Choose one of these two perspectives and write essay : Consider the following assertion: "In the traditional American nuclear family of today, once the couple has one or more children, the wife should not be employed outside the home. Rather, she should devote the majority of her time to child-rearing..

Write down the velocity of collar : Write down the velocity of collar C in terms of the variables (r1; _1) and their time derivatives. Similarly, write down the velocity of collar C in terms of the variables (r2; _2) and their time derivatives

Create a new text style using the romans.shx font : Create a new text style using the romans.shx font. Approximate the location of the holes. Refer to block1.dwg and block2.dwg (These drawings are located on the OLC for this book, in the Drafting & Design Problems section.)

Is the contractual modification binding : After the shoes had been delivered and accepted by Reinfort, Reinfort refused to pay $4,000 and insisted on paying only $3,000. Is the contractual modification binding? Explain.

Configuration of a typical home network : Describe the components and configuration of a typical home network.

How are junk bonds different from other bonds : Junk Bonds- How are junk bonds different from other bonds? As an potential investor, would you invest in junk bonds? Why or why not?

How does duration and other factors impact the price changes : Sensitivity to Interest Rate Changes- Bond prices fluctuate with changes in interest rates. How does duration and other factors impact the price changes when interest rates change?

Calculate the excess burden of the tax : The annual demand for liquor in a certain state is given by the following equation Qd= 500,000 - 20,000P, where P is the price per gallon and Qd is quantity of gallons demanded per year. The supply of liquor is given by the equation Qs= 30,000P. Calc..

User Account

All Pages