1. John Jacobson entered into a contract with Spring Water Drilling, Corp to drill and install a spring well system that would produce a specified quantify of water each month. After the system was installed, it was unable to meet the water volume production level specified in the contract.Jacobson has initiated a lawsuit against Spring Water.Would this dispute be resolved using the Uniform Commercial Code?Please explain.

2. Stevens placed an ad in a literary magazine offering $7,400 for a complete set of Vacation in Paradise, a five volume set.Adams, who was not aware of the offer, gave to Stevens four volumes of the Vacation in Paradise set as abirthday present.Adams was informed of the offer at some point, obtained the missing volume, brought the volume to Stevens and requested the $7,400 payment. Stevens refused.If Adams sues, will he prevail?Please explain.

3. Saxon, a retiree, was walking on his undeveloped land when he found an unusual looking rock. He took the rock to a store that sold jewelry and asked for an assessment.Jackson, a clerk and an aspiring jeweler, examined the rock and honestly indicated that he did not know what the rock was.He speculated that it could be a rough sapphire, and offered to pay $200 for it.Saxon agreed, completed the deal, and was paid.

The rock turned out to be a diamond with an approximate value of $15,000. Saxon is suing Jackson and the jewelry shop for the return of the diamond.What will be the result?Please explain.