Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. On May 1, Jennings, a car dealer, e-mails Wheeler and says, I have a 1955 Thunderbird convertible in mint condition that I will sell

1. On May 1, Jennings, a car dealer, e-mails Wheeler and says, I have a 1955 Thunderbird convertible in mint condition that I will sell you for $13,500 at any time before June 9 [Signed] Peter Jennings. By May 15, having heard nothing from Wheeler, Jennings sells the car to another person. On May 29, Wheeler accepts Jennings offer and tenders $13,500. When told that Jennings had sold the car to another person, Wheeler claims Jennings has breached their contract. Is Jennings in breach of the contract? Explain.
2. After a series of e-mails, Jorge Bonilla, the sole proprietor of a printing company in Uruguay agree to buy a used printer from Crystal Graphics Equipment, Inc., in New York. Crystal Graphics, through its agent, told Bonilla that the printing press was fully operational contained all of its parts, and was in excellent condition except for some damage to one of the printing towers. Bonilla paid $95,000. Crystal Graphics sent him a signed, stamped invoice reflecting this payment. The invoice was dated six days before Bonillas conversation with the agent.
When the printing press arrived, Bonilla discovered that it was missing parts and was damaged. Crystal Graphics sent replacement parts, but they did not work. Crystal Graphics was never able to make the printer operational. Bonilla sued, alleging breach of contract, breach of implied covenant of good faith, breach of express warranty, and breach of implied warranty. Crystal Graphics claimed that the contract was not enforceable because it did not satisfy the Statute of Frauds. Can Crystal Graphics prevail on the basis? Why or why not? Explain.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Carl Warren, James M. Reeve, Philip E. Fess

8th Edition

0324025394, 978-0324025392

More Books

Students also viewed these Accounting questions