Saber Energy, Inc. (Saber), entered into a sales contract with Tri- State Petroleum Corporation (Tri- State). The
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Saber Energy, Inc. (Saber), entered into a sales contract with Tri- State Petroleum Corporation (Tri- State). The contract called for Saber to sell Tri- State 110,000 barrels of gasoline per month for six months. Saber was to deliver the gasoline through the colonial pipeline in Pasadena, Texas. The first 110,000 barrels were delivered on time. On August 1, Saber was informed that Tri- State was canceling the contract. Saber sued Tri- State for breach of con-tract and sought to recover its lost profits as damages. Tri- State admitted its breach but claimed that lost profits is an inappropriate measure of damages. Who wins? Tri- State Petroleum Corporation v. Saber Energy, Inc., 845 F. 2d 575, 1988 U. S. App. Lexis 6819 (United States Court of Appeals for the Fifth Circuit)
CorporationA 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...
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Business Law Legal Environment Online Commerce Business Ethics and International Issues
ISBN: 978-0134004006
9th edition
Authors: Henry R. Cheeseman