Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sitco, Inc. is a manufacturer of kitchen stools, and has been trying to do business with Walmart. After listening to several sales pitches, Walmart sent

Sitco, Inc. is a manufacturer of kitchen stools, and has been trying to do business with Walmart. After listening to several sales pitches, Walmart sent Sitco a letter requesting samples and indicated it would likely purchase if the samples were satisfactory. After it inspected the samples, Walmart sent Sitco another letter saying, "We offer to purchase 10,000 of your No.2 stools that conform to the sample provided at your quoted price for said stools. Delivery two months from today. Your acceptance must be received in five days." Walmart intends to create what kind of contract with Sitco?
Question 9 options:
A requirements contract
A unilateral contract
An output contract
A bilateral contract
An option contract

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

Fundamentals of Management

Authors: Robbins, DeCenzo, Coulter

7th Edition

132996855, 0-13-610982-9 , 9780132996853, 978-0-13-61098, 978-0136109822

More Books

Students also viewed these General Management questions

Question

How can asymmetric information problems lead to a bank panic?

Answered: 1 week ago