Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Bernie, the sole owner of a small business, has a large piece of used farm equipment for sale. He offers to sell the equipment to
Bernie, the sole owner of a small business, has a large piece of used farm equipment for sale. He offers to sell the equipment to Hank for $10,000. Bernie dies prior to Hank's acceptance. At the time Hank accepts the offer, he is unaware of Bernie's death. What happens to the offer in this situation? Kelly offers to sell her used algebra textbook to Patrick for $50. He responds, "Maybe- if I have enough money once I get my book refund later this week." At the end of the week, Patrick approaches Kelly with $50. Kelly tells Patrick she already sold it to Kara. Patrick sues Kelly for breach of contract. What is likely outcome of this lawsuit? What is the Uniform Commercial Code and what types of contracts does it apply to? What warranties exist under the UCC
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started