RiotGear contracts with Standard Transit, Inc., to distribute RiotGears Occupy Earth/Global Movement line of apparel to retail
Question:
RiotGear contracts with Standard Transit, Inc., to distribute RiotGear’s “Occupy Earth/Global Movement”
line of apparel to retail outlets for a certain price. With the goods in transit, RiotGear receives this tweet from Standard: “Price increase of 99 percent or no delivery.”
RiotGear agrees and pays, but later sues Standard for the increase over the original price.
Is RiotGear entitled to the difference in price? Yes.
Under the ______________ ______________ rule, if a party is already bound by contract to perform a certain duty, that duty cannot serve as ______________ for a second contract. A party to a contract is not bound to a modification of the contract unless there is additional consideration for the change. In this set of facts, there is no new consideration, so RiotGear’s agreement to the change is ______________ ______________.
Step by Step Answer:
Business Law Text And Exercises
ISBN: 9780357717417
10th Edition
Authors: Roger LeRoy Miller, William E. Hollowell