Mountain Stream Trout, Inc., agreed to buy market size trout from trout grower Lake Farms, LLC. Their
Question:
Mountain Stream Trout, Inc., agreed to buy market size trout from trout grower Lake Farms, LLC. Their five-year contract did not define market size. At the time, in the trade market size referred to fish of one-pound live weight. After three years, Mountain Stream began taking fewer, smaller deliveries of larger fish, claiming that market size varied according to whatever its customers demanded. Lake Farms filed a suit for breach of contract.
Is outside evidence admissible to explain market size? Yes. Under the UCC, in interpreting a commercial agreement, a court will assume that the usage of ______________ between the parties was considered when the contract was formed. Also, the conduct that occurs under an agreement, the course of ______________, is the best indication of what the parties meant. Here, the ______________ usage at the time of the contract indicated that market size referred to fish of one-pound live weight. This was the standard for the course of ______________ between the parties over the first three years of the contract.
Step by Step Answer:
Business Law Text And Exercises
ISBN: 9780357717417
10th Edition
Authors: Roger LeRoy Miller, William E. Hollowell