Question
Q10-What is the difference between a shipment contract and a destination contract?In both types of contracts explain when the title passes from the seller to
Q10-What is the difference between a shipment contract and a destination contract?In both types of contracts explain when the title passes from the seller to the buyer and which of the two parties (buyer and seller) has the risk of loss during shipment?
Q9- The UCC allows contracts to be formed even if the offer and acceptance are missing what would normally be considered "important" contract terms.There are five "open terms" explained in your textbook.What are they and how is each of them resolved?(Hint:The first one is "open price. "If the price term is not set in the offer to create sales or lease contract, a "reasonable price" is implied at the time of delivery.Since I have given you one of them you will be graded on the other four.)
Q8- Answer the following questions with respect topromissory estoppel.
1. Is it anequitabledoctrine or alegaldoctrine?Briefly explain the difference between equitable and legal doctrines.
2. What are the four elements that must be shown for the doctrine of promissory estoppel to apply?
3. In what two situations, discussed in your textbook, ispromissory estoppelcommonly used to enforce otherwise unenforceable contracts?
Q7- In addition to suing for breach of contract or cancelling the contract, the textbook lists six additional remedies a seller may use if a buyer is in breach of contract.Briefly explain four (4) of those six.
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