Will the buyer succeed in recovering the excess

Assignment Help Management Theories

Reference no: EM131163922 , Length: word count:2000

QUESTION 1:

Consider the following situations and indicate whether consideration is present and whether Jack has an enforceable agreement:

a) Jane is going overseas and she offers to give her Lotus Super 7 sports car to Jack. The market value for this type of vehicle in good condition is around $25 000. Jack accepts.

b) Jane offers to sell Jack her Lotus Super 7 sports car for $25 000. The market value for this type of vehicle in good condition is around $25 000. Jack accepts.

c) Jane offers to sell Jack her Lotus Super 7 sports car for $2500. The market value for this type of vehicle in good condition is around $25 000. Jack accepts.

QUESTION 2:

A shipbuilder had contracted to build a tanker for North Ocean Tankers. The contract was in US dollars and didn't contain any provisions for currency fluctuations. Approximately halfway through construction of the ship, the United States devalued its currency by 10 per cent.

As the shipbuilder stood to make a loss on the contract, it demanded that an extra US$3 million be paid or it would stop work. The buyer reluctantly agreed under protest to pay, as he already had a charter for the tanker and it was essential that it be delivered on time.

The buyer didn't commence action to recover the excess payment until some nine months after delivery. Will the buyer succeed in recovering the excess?

Reference no: EM131163922

Questions Cloud

Printer research and the validity of online sources : Prepare a 2- to 3-page document discussing printer research and the validity of online sources.

Discuss how e-learning is changing the way : Discuss 3 topics in sales training that industry experts deem vital for maintaining a successful sales team. Discuss how e-learning is changing the way that sales forces are trained.

Evaluate the functionality of content delivery networks : Investigate and evaluate the functionality of Content Delivery Networks (CDNs.) Find and use a minimum of five technical resources from creditable sources.

Determine the natural frequencies of the system : Determine the natural frequencies of the system shown in Fig. 5.39 by assuming that the rope passing over the cylinder does not slip.

Will the buyer succeed in recovering the excess : The buyer didn't commence action to recover the excess payment until some nine months after delivery. Will the buyer succeed in recovering the excess?

Parallel databases-distributed databases : Write on ONE of the following topics. Write in your own words, based on some reading in the text book chapters, on Wikipedia, or from online articles. Write between 300-to-500 words.

Calculate the inputs and outputs for a corresponding hcu : Perform a DEA evaluation for this set of firms, listing the efficiency for each firm. - For each of the inefficient units, find the reference set and calculate the inputs and outputs for a corresponding HCU.

When would it be appropriate to use ppe : Personal protective equipment (PPE) is one method used to reduce risks associated with workplace hazards. Discuss the hierarchy of controls established by OSHA for workplace controls. When would it be appropriate to use PPE? List at least two posi..

Derive expressions for the natural frequencies of the system : If the load hanging at the end of the rope is W derive expressions for the natural frequencies of the system.

User Account

All Pages