Chapter 15 Hypothetical Case 2 . Seattle Shoestring Sales, Inc., arranged to sell shoestrings to Victory, Inc., a tennis shoe manufacturer. According to the terms ofthe deal, Seattle Shoestring Sales committed to selling 'y'ictory whateyer number of shoestrings it will produce next year, at SIDES per pair. Since entering into their agreement, the price of cotton has skyrocketed by Er percent. To produce shoestrings, Seattle Shoestring Sales's cost alone will be approximately $1.50 per pair. Seattle Shoestring Sales has informed 'y'ictory that it cannot and will not honor the deal. - Is there an enforceable contract between Seattle Shoestring Sales, Inc., and Victory, Inc.? Is the failure to include a quantity term in the agreement fatal to its enforceability? What about the fact that the price of cotton dramatically increased after the companies reached their agreement? Should a court or other arbiter increase the perpair contract price to account for the increase in the price of cotton and then enforce the agreement? Chapter 15 Hypothetical Case 3 ' John Harrington,Jr. {"Junior"} is a 24yearold, Spackperday smoker. John Harrington, Sr. ("Senior") is a very concerned parent. [in January 1, father announces to son, "Junior, if you will stop smoking for the entire year, I will pay you SS,DDD." Senior believes that ifJunior will stop smoking for one year, he will kick the habit. Junior reluctantly accepts his father's terms and extinguishes his half-smoked cigarette with the heel of his boot. {in January 1 of the following year, Junior approaches Senior and says, "Dacl, time to pay up." Senior has no reason to doubt that Junior has refrained from smoking for an entire year, but states, "Son, this was for your benet. The gift I have given you is the gift of life, and you are now likely to enjoy that gift longer, because you are now much less likely to contract cancer. Health statistics show that nonsmokers live ll] years longer than smokers. Enjoy your newfound life, but I will not pay you the $5,[l.\" . Does Senior owe Junior the S5,? Is there an enforceable contract between father and son? If there is not an enforceable contract, does Junior have any other legal or equitable theory of recovery? ls Senior ethically obligatecl to pay Junior the $5,Dl]l]? Chapter 15 Hypothetical Case 4 . Richard Clifton agreed to sell Serena Davis a boat, with a contract stating that she would make regular payments over eight years. Davis kept up the payments on the boat for a while, but after five years, she was unable to continue. At that point, Davis still owed $3,000 on the boat. Davis offered Clifton a $2,500 watch instead of the remaining $3,000 she owed him. Clifton accepted the offer and the watch, but later changed his mind and said he still wanted the money. . Can Clifton change his mind at this point? Is the debt settled