Rockland Industries is a Maryland corporation that manufactures drapery lining fabrics. Rockland uses approximately 500,000 pounds per
Question:
Due to a serious worldwide crisis in the supply of this chemical in the spring of 1994, HoltraChem could no longer maintain its existing supply relationship with Rockland. Rockland, in exploring other suppliers, found that the antimony oxide market was extremely tight, with rising prices and no known recovery period.
Rockland contracted with Manley-Regan for delivery of antimony oxide (114,000 pounds total) at $1.80 per pound. That supply fell through because of the nature of the market and Rockville contracted with another supplier for 44,092 pounds of antimony oxide at $2.65 per pound and with still another supplier for 88,184 pounds at $2.54 per pound.
Rockland filed suit seeking as damages the difference between the price of $1.80 per pound and the various other prices it had paid. Manley-Regan used UCC § 2-615 as its defense claiming commercial impracticability. Does Manley-Regan have a good case using this defense? [Rockland Industries, Inc. v E+E (US) Inc., 991 F Supp 468 (D Md)]
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Andersons Business Law and the Legal Environment
ISBN: 978-0324786668
21st Edition
Authors: David p. twomey, Marianne moody Jennings
Question Posted: