Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

32) Quality Yarn, Inc. had a contractwith American Knitware Co. to make monthly deliveries of yarn for 3 years beginning in 2018. For two years,

32) Quality Yarn, Inc. had a contractwith American Knitware Co. to make monthly deliveries of yarn for 3 years beginning in 2018. For two years, Quality Yarn made regular deliveries to American Knitwear, and American Knitwear made monthly payments to Quality Yarn. In 2020,American Knitwear sold its manufacturing operations to a new owner, Global Mills Corp., and assigned to them all of its contracts with suppliers, including Quality Yarn's. All rights were assigned and all duties were delegated from American Knitwear to Global Mills.

a) Does Quality Yarn have to continue making monthly deliveries to Global Mills, and does Global Mills have to continue making payments to Quality Yarn? Why or why not?

b) What difference would it make if Global Mills failed to promptly notify Quality Yarn of its new ownership?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Smith and Roberson Business Law

Authors: Richard A. Mann, Barry S. Roberts

15th Edition

1285141903, 1285141903, 9781285141909, 978-0538473637

Students also viewed these Law questions

Question

10. What is meant by a feed rate?

Answered: 1 week ago