To what damages if any is the grain dealer entitled

Assignment Help Business Law and Ethics

Reference no: EM131388221

A farmer made a contract in April to sell a grain dealer forty thousand bushels of corn to be delivered in October. On June 3, the farmer unequivocally informed the grain dealer that he was not going to plant any corn, that he would not fulfill the contract, and that if the buyer had commitments to resell the corn he should make other arrangements.

The grain dealer waited in vain until October for performance of the repudiated contract. Then he bought corn at a greatly increased price on the market in order to fulfill commitments to his purchasers. To what damages, if any, is the grain dealer entitled? Explain.

Reference no: EM131388221

Questions Cloud

Which faces a greater need for global standardization why : Discuss the pressures for local responsiveness and global standardization faced by each firm. Which experiences the greater pull toward local responsiveness? Why? Which faces a greater need for global standardization? Why?

How much burrus recover in damages for breach of warranty : Itek contends that consequential damages are not recoverable in this case since Burrus elected to keep the press and continued to use it. How much should Burrus recover in damages for breach of warranty? Is he entitled to consequential damages?

What were some positive consequences of that development : The availability of hospital insurance removed an important cost constraint from hospital services and charges. What were some positive and negative consequences of that development?

Long-run perfect competition equilibrium : Suppose that an industry is in long-run perfect competition equilibrium. Then the price of a substitute good (in consumption) decreases. How about in the long run?

To what damages if any is the grain dealer entitled : Then he bought corn at a greatly increased price on the market in order to fulfill commitments to his purchasers. To what damages, if any, is the grain dealer entitled? Explain.

Is restorative justice useful in lowering rate of recidivism : Society's response to crime has changed over the past century. The approach of rehabilitation in the 1960s has gradually been replaced with a "get tough on crime" approach, bringing in mandatory sentencing laws and long prison sentences. Regardles..

Calculate the addition to retained earnings expected : Calculate the addition to retained earnings expected in 2016

What should barr be able to recover from s 2 yachts : According to the expert, not only was the yacht not new, it was worth at most only a half of the new value of $102,000. What should Barr be able to recover from S-2 Yachts and Crow's Nest?

Determine the mass moment of inertia of the object : Determine the mass moment of inertia about the z axis using composite shapes. Express your answer in terms of the mass m of the object.

User Account

All Pages