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The Book Nook, a small bookstore, sent Kidder Publishing Company a written order for 50 copies of Honesty in Business: The Bernard Madoff Story
The Book Nook, a small bookstore, sent Kidder Publishing Company a written order for 50 copies of "Honesty in Business: The Bernard Madoff Story" at $13.95 per copy. Kidder accepted the Book Nook's order in writing but before the books could be shipped, Madoff had been arrested and charged with fraud and other S.E.C. criminal violations, Irv Glanz, owner of the Book Nook, called Wally Diddle, Kidder's sales manager, and complained that the market for books touting Madoff's honesty had obviously been destroyed, and asked to be let out of the contract. Diddle refused to let Glanz out of the contract, but he did orally agree to reduce the price of the books to $10.95 per copy. When the books arrived, however, Diddie billed Glanz for $13.95 a copy. Which of the following statements is incorrect? O Under the UCC, Diddle's promise to reduce the price of the books is unenforceable due to lack of consideration O Under the UCC, Diddle's promise to reduce the price of the books would have been enforceable against him if he had it is writing O Under the UCC, Diddle's oral promise would have been enforceable against him if he had agreed to reduce the price of the books to $8.95 each O Under the UCC, Diddle had no duty to agree to the contract modification.
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