Question
Which of the following provisions from a corporate merger agreement is not a representation and warranty? Group of answer choices The target (the company being
Which of the following provisions from a corporate merger agreement is not a representation and warranty?
Group of answer choices
The target (the company being acquired by the acquiror) owns or licenses all the intellectual property that is needed to operate its business
The acquiror (the company acquiring the target company) will deliver to the targets stockholders $50,000,000.00 (fifty million dollars) to purchase all of the outstanding stock of the target
The target (the company being acquired by the acquiror) has never done any business in North Korea in violation of US sanctions against North Korea
The target (the company being acquired by the acquiror) has its headquarters in Texas
The acquiror (the company acquiring the target company) has outstanding debt of approximately $5,000,000.00 (five million dollars)
Orchard-owner Jamal has a written contract to sell 1,000 barrels of oranges to fruit-retailer Ahmed at $10 per barrel, for a total contract price of $10,000. However, when Jamal delivers the oranges to Ahmed, the market price for oranges has fallen to $8 per barrel, and Ahmed refuses to accept the oranges. Rather than trying to sell the oranges to another fruit-seller at $8 per barrel, Jamal takes them back to his orchard and dumps them into a field where they rot. If Jamal sues Ahmed for breach of contract because Ahmed refused delivery of the oranges, what amount of money will Jamal likely be awarded?
Group of answer choices
Up to $90,000 (9 times $10,000), because on these facts, punitive damages are likely
$2,000, because Jamal did not sell the oranges to someone else.
$0, because Ahmed had no obligation to accept delivery of the oranges from Jamal at $10 per barrel when cheaper oranges at $8 per barrel were available in the market
$10,000, because that is the full value of the contract to Jamal
$8,000, because that is the amount Jamal would have received if he had sold the oranges to someone else in the market
In a bilateral contract between Kim and Ruth, which of the following would not be sufficient consideration from Kim to Ruth?
Group of answer choices
The delivery by Kim to Ruth of firewood worth $100
A promise by Kim to transfer ownership to Ruth of a bicycle worth $100
A promise by Kim to re-pay a debt Kim already owes to Ruth of $100
A $100 bill delivered by Kim to Ruth at the time that the contract is signed
A promise by Kim to provide $100 worth of child care services to Ruth over the next 3 months
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