On September 13,2021, EBS, Inc. a wholesaler of furniture, entered into a contract with Dina's, a well-known furniture store. This contract provided that EBS, Inc. was to sell to Dina's 50 ABC Brand large dining room tables and chairs for $250,000. This contract, dated October 1, 2021, was written and signed by the parties. However, the purchase price was omitted from that contract. On October 25, 2021, five days before the date of performance of the first contract, EBS's Chief Executive Officer telephoned the President of Dina's to inform her that EBS refused to perform the first contract because its lawyer thought that the contract price was too low. After hearing this news, Dina's threatened to bring legal action for breach of contract against EBS, Inc. on that contract. A lawsuit was indeed file, but Dina's admitted in its answers to that lawsuit that the contract was indeed made and the price was agreed to. (A) In this action by Dina's against EBS, Inc., what is the best argument that DIna's can make to justify the refusal to perform the contract? (15 credits) About one year later, on September 3, 2022, EBS, Inc. sought to buy a building to house its new corporate offices. It found a property on 380 Madison Avenue in Manhattan. Karry Justner, Inc., a real estate company, was selling the buidling for $250 million. In a telephone conversation. EBS's lawyer asked Karry Justner, the CEO of Karry Justner, Inc., for a written contract. Kushner stated to EBS's CEO: "we don't need a writing ... we can do this with a handshake. A written contract was never made. Yet all the material terms were agreed to by the parties in their face to face meeting on September 22nd. Payment was to be made on November 1 , 2025. On November 1 , as stipulated in the contract, EBS, Inc. sent a check to Karry Justner, Inc., for the $250 million purchase price. It was cashed by Karry Justner on November 3rd. However, on November 12, 2021, Karry Justner decided not to sell the office building and sent a wire transfer of $250 million to EBS, as a return on the payment. EBS, Inc., refused to accept the money, claiming it wrote a check for the purchase and it was cashed. EBS wanted the property transferred. When that did not happen, EBS sued Karry Justner for breach of contract. (B) In this action by EBS against Karry Justner, judgment for whom? (10 credits) On September 13,2021, EBS, Inc. a wholesaler of furniture, entered into a contract with Dina's, a well-known furniture store. This contract provided that EBS, Inc. was to sell to Dina's 50 ABC Brand large dining room tables and chairs for $250,000. This contract, dated October 1, 2021, was written and signed by the parties. However, the purchase price was omitted from that contract. On October 25, 2021, five days before the date of performance of the first contract, EBS's Chief Executive Officer telephoned the President of Dina's to inform her that EBS refused to perform the first contract because its lawyer thought that the contract price was too low. After hearing this news, Dina's threatened to bring legal action for breach of contract against EBS, Inc. on that contract. A lawsuit was indeed file, but Dina's admitted in its answers to that lawsuit that the contract was indeed made and the price was agreed to. (A) In this action by Dina's against EBS, Inc., what is the best argument that DIna's can make to justify the refusal to perform the contract? (15 credits) About one year later, on September 3, 2022, EBS, Inc. sought to buy a building to house its new corporate offices. It found a property on 380 Madison Avenue in Manhattan. Karry Justner, Inc., a real estate company, was selling the buidling for $250 million. In a telephone conversation. EBS's lawyer asked Karry Justner, the CEO of Karry Justner, Inc., for a written contract. Kushner stated to EBS's CEO: "we don't need a writing ... we can do this with a handshake. A written contract was never made. Yet all the material terms were agreed to by the parties in their face to face meeting on September 22nd. Payment was to be made on November 1 , 2025. On November 1 , as stipulated in the contract, EBS, Inc. sent a check to Karry Justner, Inc., for the $250 million purchase price. It was cashed by Karry Justner on November 3rd. However, on November 12, 2021, Karry Justner decided not to sell the office building and sent a wire transfer of $250 million to EBS, as a return on the payment. EBS, Inc., refused to accept the money, claiming it wrote a check for the purchase and it was cashed. EBS wanted the property transferred. When that did not happen, EBS sued Karry Justner for breach of contract. (B) In this action by EBS against Karry Justner, judgment for whom? (10 credits)
