Question
Discussion Scenario: Saber Energy, Inc. (Saber), entered into a sales contract with Tri-State Petroleum Corporation (Tri-State). The contract called for Saber to sell Tri-State 110,000
Discussion Scenario: Saber Energy, Inc. (Saber), entered into a sales contract with Tri-State Petroleum Corporation (Tri-State). The contract called for Saber to sell Tri-State 110,000 barrels of gasoline per month for six months. Saber was to deliver the gasoline through the colonial pipeline in Pasadena, Texas. The first 110,000 barrels were delivered on time. On August 1, Saber was informed that Tri-State was canceling the contract. Saber sued Tri-State for breach of contract and sought to recover its lost profits as damages. Tri-State admitted its breach but claimed that lost profits are an inappropriate measure of damages.
Topic Questions:
- In Saber's lawsuit against Tri-State, who wins and why?
- How would a court interpret the contract if it simply required Tri-State to pay Saber $1 Billion as liquidated damages?
-
What are the social and ethical issues involved with the subject matter of this assignment?
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