Question
Todd owns a small independent service station chain. Mike and Todd reach an agreement for Mike to deliver gasoline to Todd's stations at $1.85 per
Todd owns a small independent service station chain. Mike and Todd reach an agreement for Mike to deliver gasoline to Todd's stations at $1.85 per gallon over a period of one year. Halfway through the term of the contract, the price of gasoline had increased by more than a dollar per gallon. Although Mike still had gasoline available for sale, he told Todd the price per gallon would have to increase by $1.00 per gallon, or he would be unable to deliver. Todd initially agreed to pay the higher amount, but when billed, refused to pay more than the initially agreed-upon price. Mike sues to enforce the agreement for the higher amount. Who will prevail and why? Identify and include each side's best arguments.
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