Question
Shirley Holder is the payee of a negotiable promissory note . She transferred the note to Pomme Appliances Co. in return for a VCR She
Shirley Holder is the payee of a negotiable promissory note . She transferred the note to Pomme Appliances Co. in return for a VCR She endorsed the note as follows : July 30, Year 1 Pay to Pomme Appliances Co. on condition it delivers a VCR to me on or before April 1 , Year 1. Shirley Holder The endorsement is: A. Restrictive and effective to limit Shirley's liability if the condition is not complied with B. Restrictive but ineffective to limit Shirley's liability C. Conditional , and Shirley will avoid all liability if the maker refuses to pay D. Qualified but ineffective to limit Shirley's liability October 21 Year 1 promise to pay to the order of Bill Bartlett $1,500 plus 11% simple interest per annum signed Wallace Kilgore. The instrument is payable: A.On demand B. Immediately C. Thirty days after issue D. At sight On June 1, Seller and Buyer entered into a contract for the sale of goods to be delivered on June On June 15, Seller repudiated the contract because the agreed price was less than the market value of the goods at that date. Buyer did not cover. On June 30, Buyer tendered the contract price, but Seller did not accept the tender and deliver the goods. On that date, the market price was greater than it had been on the date of the anticipatory repudiation. What is Buyer's remedy? A. Specific performance B. None, because Buyer failed to cover C. Damages equal to the difference between the contract price and the market value on June 30 D. Damages equal to the difference between the contract price and the market value on June 15
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