A buyer is entitled to the the contract requires delivery in installments. the contract is for goods where the price is $500 or more. the contract is for unique goods. the contract is between merchants.
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- Question Contract management can be defined as ‘the activities of a buyer before, during and after a contractis signed, to ensure that all parties to the contract understand and fulfil their contractual obligations’.Contracts may be for specific projects or for the supply of good or services over a period of time,typically between one to three years depending upon circumstances and objectives. Contractactivities can be split into two distinct but interdependent phases: pre-contract award/renewal andpost-contract management. Contract management is command and control of the activities spanningboth phases, but the potential value adding outcomes of post contract management will not berealised unless effective pre-contract management has resulted in a contract that addresses allstakeholders’ needs with the utmost professional skill. A failure in pre-contract management willresult in post-contract management time and effort being wasted on trying to resolve and correctomissions and…QUESTION 4 Section 16(1)(a) of the Sale of Goods Act 1957 provides for implied condition as to fit for particular purpose. Explain the implied condition.State whether the following contracts are considered leases under PFRS 16. Why or why not? 1. Customer enters into a contract with an aircraft owner (supplier) for the use of an explicitly specified aircraft for a two year-period. The contract details the interior and exterior specifications for the aircraft. 2. Customer enters into a contract with a manufacturer (supplier) to purchase a particular type, quality and quantity of shirts for a three-year period.
- Question 3 Decide whether an acceptance is enforceable in the following circumstances with reference to the relevant statutory provisions and case laws:(a) On Thursday, Rita called Beatrice to offer her most favourite Disney Princess toy for RM300 to be responded by the next day. Beatrice agreed to the offer on Sunday claiming that she has just remembered about it.chapter 4 6. A retailer in Atlanta ordered a shipment of shoes totaling $15,800 from a vendor in California. The shipping cost was $220. The shoes were shipped FOB Atlanta; charges reversed. The shoe vendor gave the retailer a 1% damage allowance. How much did the retailer pay the vendor for the shoes? (Present your answer with a comma separator, dollar-sign, and rounded to the penny (i.e. $1,234.56).)1) Supplier and Retail Firm A retail-level firm has a contract to sell a single unit of a good to a consumer for 10$. Not delivering the good leads to no payment from the consumer along with a penalty of 5$ to be paid to the consumer by the firm as per the contract between the firm and the consumer. The retail-level firm must also pay an operating cost of 3$ in order to stay in business and in order to be able to deliver the good. This cost must be paid even if the firm decides not to sell the good. Failing to deliver the good and having to pay the penalty and the other costs would lead to the retail firm going out of business. A supplier firm is the only firm in the world that can build the good. The supplier can build the good for 2$ and does so after an order is made. The supplier cannot sell directly to the consumer and there is only one retail firm in this market. Both the supplier and the retailer only care about their own private profit. There is no contract at this point…
- Question 1: If John picked up goods from Steve, and while tranporting them to Bob, the trailer was destroyed. Bob refuses to pay for the goods since they weren't delivered. Who pays for the goods? Question 2: Same fact as above. Steve loaded the wrong items and the goods were shipped. What happens in this situation. Question 3: If Steve sent the goods and they were stolen. They were purchased by Victoria from the theifs. Who is entitled to the goods. Steve, Victoria, or Bob. Answer these 3 questionsDeep South Imaging Inc., a US company enters into an agreement with Cortez Health Systems, a Mexican company. The agreement calls for Deep South to purchase 5 new MRI machines at a price of $20,000 each. The contract calls for delivery to Deep South's headquarters in Mobile, Alabama. The contract is silent as to risk of loss. When the goods arrive, Deep South is upset to see that two of the machines were damaged in transit. Deep South informs Cortez that it will not pay for the broken machines. If Cortez sues Deep South, it will likely A. Win, because the UCC requires deep south to pay pay for the goods B. Lose, because MRI machines are related to a service and therefore are not covered by the CISG C. Win, because damage to the goods does not give the buyer the right to not fulfill its payment obligations D.Mohammed wants to sell his bike and he gives an advertisement. In the advertisement it is mentioned that a fastest bike is available for sale at 5000 OMR. Omar is interested in this offer and Mohammed says that it can be driven at the speed of 500km/hour in the normal roads. Omar is mesmerized by the offer and agrees buy. Question a. Is the contract in this case enforceable by law? Expluin why or why not?
- Last year Carol decided to open a gallery selling her artwork. She approached her sister Gemma and her friend Molly, as she knew that they were both interested in purchasing paintings for their business premises. Gemma ordered 2 paintings for her café at a total cost of £800. Molly ordered 5 paintings for her new office, which she wanted to look impressive when welcoming new clients, at a total cost of £1,000. Several months passed while Carol worked on the paintings. The final painting for Molly took slightly longer than expected, it was eventually delivered one month later than the initial date agreed. This was partly due to Carol being busier than expected, as Carol’s gallery became well-known and financially successful very quickly. Molly and Gemma, although delighted with their paintings, feel Carol ‘doesn’t really need the money’ and are now reluctant to pay for the paintings. Question Which of the following statements regarding the agreement between Carol and Gemma is correct?…Product should have exchange value and must be capable of being exchanged between seller and buyer for a mutually a. Agreed price b. Exchange Value c. Value satisfaction d. None of these.Q1 (a) Golden Foods (GF) agreed to supply 2,500 cans to Riaz Grocery Stores (RGS). According to the agreement, the date of delivery was 31st August 2017. However, on the due date, GF refused to supply the cans. Under the provisions of the Contract Act 1872, discuss the rights of RGS in the above situation assuming that time was the essence of the contract. (3)