Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Parol Evidence. Mountain Stream Trout Co. agreed to buy market size trout from trout grower Lake Farms, LLC. Their five- year contract did not define

image text in transcribed
Parol Evidence. Mountain Stream Trout Co. agreed to buy "market size" trout from trout grower Lake Farms, LLC. Their five- year contract did not define market size. At the time, in the trade, market size referred to fish of one-pound live weight. After three years, Mountain Stream began taking fewer, smaller deliveries of larger fish, claiming that market size varied according to whatever its customers demanded and that its customers now demanded larger fish. Lake Farms filed a suit for breach of contract. (See page 387.) The first group will decide whether parol (outside) evidence is admissible to explain the terms of this contract. Are there any exceptions that could apply? A second group will determine the impact of course of dealing and usage of trade on the interpretation of contract terms. A third group will discuss how parties to a commercial contract can avoid the possibility that a court will interpret the contract terms in accordance with trade usage

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Crossover Of Audit And Evaluation Practices Comparative Policy Evaluation

Authors: Maria Barrados, Jeremy Lonsdale

1st Edition

1032173874, 978-1032173870

More Books

Students also viewed these Accounting questions

Question

What are the five joint types used in robotic arms and wrists?

Answered: 1 week ago

Question

Persuasive Speaking Organizing Patterns in Persuasive Speaking?

Answered: 1 week ago